Diamonds Forever Corporation Received Subscriptions for 80 Shares of Its

Diamonds Forever Corporation received subscriptions for 80 shares of its $100 par value common stock for $120 per share.The entry to record the receipt of the subscriptions would include a:

A) debit to Common Stock Subscribed for $9,600.
B) debit to Subscriptions Receivable-Common Stock for $8,000.
C) credit to Paid-in Capital in Excess of Par for $1,600.
D) credit to Common Stock to be Outstanding $8,000.