Lawrence, Inc., entered into a subscription contract with several subscribers that calls for the purchase of 2,000 shares of $5 par common stock for $15 a share. The contract calls for a 20% down payment and specifies that any amounts not paid within the contract period will be forfeited in full.

Refer to Exhibit 15-2. Lawrence received final payment (80%) on 1,800 shares and issued those shares. Subscribers defaulted on 200 shares. The entries to record receipt of final payment and issuance of 1,800 shares would include a:

A) credit to Common Stock for $9,000

B) debit to Cash for $24,000

C) credit to Subscriptions Receivable: Common Stock for $24,000

D) debit to Common Stock Subscribed for $10,000