S & C Company Issues 1,500 Shares of Its No-Par $\begin{array}{lll}\text { Common Stock } & 1,500 \\\text { Addl. Paid-in Capital in Excess of Par-Common } & & 1,500\end{array}$

S & C Company issues 1,500 shares of its no-par common stock. The issue price of the stock is $20 per share. What is the journal entry required to record the issuance of the shares?

A) $\begin{array}{lll}\text { Common Stock } & 1,500 \\\text { Addl. Paid-in Capital in Excess of Par-Common } & & 1,500\end{array}$

B) $\begin{array}{lll}\text { Cash } & 1,500 & \\\quad \text { Common Stock - no par } & & 1,500\end{array}$

C) $$\begin{array} { l r } \text { Cash } & 30,000 \\\text { Common Stock - no par } && 1,500 \\\text { Addl. Paid-in Capital in Excess of Par-Common } && 28,500\end{array}$$
D) $$\begin{array} { l l } \text { Cash } & 30,000 \\\quad \text { Common Stock-nopar } && 30,000\end{array}$$