Paltrowski Company Issued 1 Million Shares of No-Par Common Stock

Paltrowski Company issued 1 million shares of no-par common stock with a stated value of $9.The issue price was $40 per share.Which journal entry is prepared?

A) debit Cash $40 million and credit Common Stock $40 million
B) debit Cash $40 million,credit Common Stock $9 million and credit Paid-in Capital in Excess of Par-Common $31 million
C) debit Cash $40 million,credit Common Stock $9 million and credit Paid-in Capital in Excess of Stated Value-Common $31 million
D) debit Cash $40 million and credit Retained Earnings $40 million