The entry to record Shaman, Inc. selling 1,200 shares of $5 par common stock at $9 per share would be to:
◦ debit Cash $10,800; credit Common Stock $10,800.
◦ debit Cash $10,800; debit Paid-In Capital in Excess of Par–Common $4,800; credit Common Stock $15,600.
◦ debit Cash $10,800; credit Common Stock $6,000; credit Paid-In Capital in Excess of Par–Common Stock $4,800.
◦ debit Cash $6,000; credit Common Stock $6,000.