On November 30, 2006, Pegler Corporation Paid $500,000 Cash and Issued

On November 30, 2006, Pegler Corporation paid $500,000 cash and issued 100,000 shares of $1 par common stock with a current fair value of $10 a share for all 50,000 outstanding shares of $5 par common stock (carrying amount $20 a share) of Stadler Company, which became a subsidiary of Pegler. Also on November 30, 2006, Pegler paid $50,000 for finder's, accounting, and legal fees related to the business combination and $80,000 for costs associated with the SEC registration statement for the common stock issued in the combination. The net result of Pegler's journal entries to record the combination is to:

A) Debit Investment in Stadler Company Common stock for $1,000,000
B) Credit Paid-In Capital in Excess of Par for $900,000
C) Debit Expenses of Business Combination for $130,000
D) Credit Cash for $630,000