Bramble Corporation issues 11200 shares of $50 par value preferred stock for cash at $70 per share. The entry to record the transaction will consist of a debit to Cash for $784000 and a credit or credits to Preferred Stock for $784000. Preferred Stock for $224000 and Paid-in Capital from Preferred Stock for $560000. Paid-in Capital from Preferred Stock for $784000. Preferred Stock for $560000 and Paid-in Capital in Excess of Par-Preferred Stock for $224000.