Ballard, Inc. issued 15,000 shares of preferred stock for $751,000. The stock had a par value of $40 per share. The journal entry to record this transaction would be: Question content area bottom Part 1 A. Cash 751,000 Preferred Stock$40 Par Value 751,000 B. Preferred Stock$40 Par Value 751,000 Cash 600,000 Paidin Capital in Excess of Par Preferred 151,000 C. Cash 600,000 Preferred Stock$40 Par Value 600,000 D. Cash 751,000 Preferred Stock$40 Par Value 600,000 Paidin Capital in Excess of Par Preferred 151,000