Kim, Inc Issued 8,000 Shares of Stock at a Stated Value

Kim, Inc. issued 8,000 shares of stock at a stated value of $10/share. The total issue of stock sold for $15 per share. The journal entry to record this transaction would include a

A) debit to Cash for $80,000.
B) credit to Common Stock for $80,000.
C) credit to Paid-in Capital in Excess of Par Value for $40,000.
D) credit to Common Stock for $120,000.