Use the Following Information to Answer Questions 57-58

Multiple Choice

Use the following information to answer questions 57-58.
Minosh Corp. is authorized to issue 400,000 no par value common shares. Subscribers agree to purchase shares at $ 12 per share with a 30% down payment.
-The journal entry to record the issuance of the shares upon receipt of the final instalment includes a

A) debit to Common Shares Subscribed for $ 900,000.
B) credit to Common Shares for $ 670,000.
C) credit to Common Shares for $ 270,000.
D) debit to Subscriptions Receivable for $ 670,000.