April, Inc. issued 4,000 shares of preferred stock for $ 264,000. The stock has a par value of $66 per share. The journal entry to record this transaction would

O A. debit Cash $264,000, credit Preferred Stock-$66 Par Value $4,000, and credit Paid In Capital in Excess of Par-Preferred $260,000 O B. debit Cash $264,000 and credit Preferred Stock-$66 Par Value $264,000 O C. credit Cash $264,000, debit Preferred Stock-$66 Par Value $4,000, and debit Paid In Capital in Excess of Par-Preferred $260,000 O D. credit Cash $264,000 and debit Preferred Stock-$66 Par Value $264,000