On July 1, 2022, Phoenix Company offers to issue their accountant 800 common shares at their current market value of $12 per share, equating to a fair value of $9,600. The accountant accepts the offer of shares in exchange for their accounting services rendered. The journal entry for the issuance of shares would be the following: Select one: 

a. Debit Accounting Fees Expense $9,600; credit Common Shares $9,600 

b. Debit Cash $9,600; credit Common Shares $9,600 

c. Debit Cash $9,600; credit Service Revenue $9,600 

d. Debit Accounting Fees Expense $9,600; credit Cash $9,600