April, Inc. issued

3,000

shares of preferred stock for

$189,000.

The stock has a par value of

$63

per share. The journal entry to record this transaction would ________.

A.credit Cash

$189,000,

debit Preferred

Stock$63

Par Value

$3,000,

and debit

PaidIn

Capital in Excess of

ParPreferred

$186,000

B.credit Cash

$189,000

and debit Preferred

Stock$63

Par Value $189,000

C.debit Cash

$189,000

and credit Preferred

Stock$63

Par Value $189,000

D.debit Cash

$189,000,

credit Preferred

Stock$63

Par Value

$3,000,

and credit

PaidIn

Capital in Excess of

ParPreferred

$186,000