Victory Corporation Issues 17,000 Shares of Its $2 Par Value

Victory Corporation issues 17,000 shares of its $2 par value common stock for $152,025 cash on February 20. What is the appropriate journal entry to record this transaction?

A) $\begin{array}{|l|r|r|}\hline \text { Cash } & 152,025 & \\\hline \text { Common Stock } & & 34,000 \\\hline \begin{array}{l}\text { Paid-in Capital in Excess of Par, Common } \\\text { Stock }\end{array} & &118,025 \\\hline\end{array}$
B) $\begin{array}{|l|r|r|}\hline \text { Common Stock } & 152,025 & \\\hline \text { Cash } & & 152,025 \\\hline\end{array}$
C) $\begin{array}{|l|r|r|}\hline \text { Cash } & 152,025 & \\\hline \text { Common Stock } & & 34,000 \\\hline \text { Retained Earnings } & & 118,025 \\\hline\end{array}$
D) $\begin{array}{|l|r|r|}\hline \text { Cash } & 152,025 & \\\hline \text { Common Stock } & & 152,025 \\\hline\end{array}$
E) $\begin{array}{|l|r|r|}\hline \text { Cash } & 118,025 & \\\hline \begin{array}{l}\text { Paid-In Capital in Excess of Par, Common } \\\text { Stock }\end{array} & &34,000 \\\hline \text { Common Stock } & & 152,025\\\hline\end{array}$