Five Hundred Shares of $26 Par Common Stock Was Exchanged

Five hundred shares of $26 par common stock was exchanged for a piece of equipment with a fair market value of $13,500.The journal entry to record the transaction would include a:

A) credit to Equipment for $13,000.
B) debit to Common Stock for $13,500.
C) credit to Paid-In Capital in Excess of Par Value-Common for $500.
D) credit to Common Stock for $13,500.