Lawrence, Inc., entered into a subscription contract with several subscribers that calls for the purchase of 1,500 shares of $5 par common stock for $15 a share. The contract calls for a 25% down payment and specifies that any amounts not paid within the contract period will be forfeited in full. Lawrence received final payment (75%) on 1,500 shares and issued those shares. The entries to record receipt of final payment and issuance of 1,500 shares would include a a. debit to Common Stock for $7,500. b. credit to Subscriptions Receivable: Common Stock for $24,000. c. debit to Cash for $16,875. d. debit to Common Stock Subscribed for $10,000.