Bentley Corporation Received Cash from Issuing 17,000 Shares of Common

Bentley Corporation received cash from issuing 17,000 shares of common stock at par on January 1,2018.The stock has a par value of $0.05 per share.Which is the correct journal entry to record this transaction?

A) Cash is debited for $850, and Common Stock-$0.05 Par Value is credited for $850.
B) Cash is credited for $17,000 and Common Stock-$0.05 Par Value is debited for $17,000.
C) Paid-In Capital in Excess of Par-Common is debited for $16,150, and Common Stock-$0.05 Par Value is credited for $16,150.
D) Cash is debited for $17,000, Common Stock-$0.05 Par Value is credited for $850, and Paid-In Capital in Excess of Par-Common credited for $16,150.