28. Beltran Company issues 20,000 shares of $3 par value preferred stock for $40 per share. The journal entry to record the issuance will: A. debit Cash for $800,000, and credit Preferred Stock for $800,000 B. debit Cash for $60,000 and a credit to Preferred Stock for $60,000. C. debit Cash for $800,000, a credit to Preferred Stock for $60,000, and a credit to Additional Paid-in Capital for $740,000 D. debit Cash for $800,000, a credit to Preferred Stock for $60,000, and a credit to Premium on Preferred Stock for $740,000

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