Necessities, Inc $\quad$ $\quad$ $\quad$ Common Stock 45,000
B) Cash 45,000

Necessities, Inc. issued 750 shares of no-par common stock, with no stated value, for $60 cash per share. The journal entry to record this transaction is:

A) Cash 45,000
$\quad$ $\quad$ $\quad$ Common Stock 45,000
B) Cash 45,000
$\quad$ $\quad$ $\quad$ Paid-in Capital in Excess of Par Value 45,000
C) Cash 45,000
$\quad$ $\quad$ $\quad$ Common Stock 15,000
$\quad$ $\quad$ $\quad$ Paid-in Capital in Excess of Par Value 30,000
D) Cash 45,000
$\quad$ $\quad$ $\quad$ Common Stock 750
$\quad$ $\quad$ $\quad$ Paid-in Capital in Excess of Par Value 44,250