When Bunyan Corporation was formed on January 1, 20xx, the corporate charter provided for 97,200 shares of $9 par value common stock. The following transaction was among those engaged in by the corporation during its first month of operation: The corporation issued 6,560 shares of stock at a price of $24 per share. Which of the following would be included when recording the transaction?

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debit to Common Stock for S97,200 credit to Paid in Capital in Excess of Par for $98,400 credit to Common Stock for $157,440 debit to Cash for $59,040