30. What is the correct entry for the sale of 1,400 shares of $10 par value preferred stock for $70,000 cash? Multiple Choice Cash70,000 Preferred stock 14,000 Additional paid-in capital 56,000 Cash14,000 Preferred stock 14,000 Cash70,000 Preferred stock 70,000 Cash70,000 Gain on sale of preferred stock 56,000 Preferred stock 14,000