King Co. issued 100,000 shares of $10 par common stock for $1,200,000. King acquired 8,000 shares of its own common stock at $15 per share. Three months later King sold 4,000 of these shares at $19 per share. If the cost method is used to record treasury stock transactions, to record the sale of the 4,000 treasury shares, King should credit:

a. Treasury Stock for $76,000.

b. Treasury Stock for $40,000 and Paid-in Capital from Treasury Stock for $36,000.

c. Treasury Stock for $60,000 and Paid-in Capital from Treasury Stock for $16,000.

d. Treasury Stock for $60,000 and Paid-in Capital in Excess of Par for $16,000.