The Vernon Corporation was formed on January 2, 2018. The company sold 20,000 shares of $8.00 par value stock for $20.00 per share. On July 1, 2018, Vernon bought back 4,000 shares of stock for $24.00 per share. The treasury stock was resold on September 1, 2018 for $32.00 per share.

Which one of the following is the entry to record the original sale of the stock?
A) DR Cash 400,000 CR Common stock 160,000 CR Paid-in capital in excess of par 240,000
B) DR Cash 400,000 CR Common stock 240,000 CR Paid-in capital in excess of par 160,000
C) DR Common stock 240,000 DR Paid-in capital in excess of par 160,000 CR Cash 400,000
D) DR Common stock 160,000 DR Paid-in capital in excess of par 240,000 CR Cash 400,000