If a Company Issues 10,000 Shares of $8 Par Value

If a company issues 10,000 shares of $8 par value common stock at a market price of $120 per share, which of the following is the correct balance sheet entry?

A) Increase cash by $1,200,000 and increase paid-in capital by $1,200,000
B) Increase cash by $1,200,000 and increase retained earnings by $1,200,000
C) Increase revenues by $1,200,000
D) Increase common stock and cash by $80,000