A company issues 1.00 million shares of preferred stock with a par value of $2.00 at its market price of $26.00 per share. The issuance should be recorded with a debit to Cash for:

A) $26.00 million, a credit to Preferred Stock for $2.00 million, and a credit to Additional Paid-in Capital for $24.00 million.

B) $26.00 million and a credit to Preferred Stock for $26.00 million.

C) $2.00 million and a credit to Preferred Stock for $2.00 million.

D) $24.00 million, a credit to Additional Paid-in Capital for $2.00 million, and a credit to Preferred Stock for $26.00 million.