Carla Vista Corporation issued $108,000$ shares of $$20$ par value, cumulative, $9\%$ preferred stock on January $1,2026,$ for $$2,530,000.$ In December $2028,$ Carla Vista declared its first dividend of $$840,000.$

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Prepare Carla Vista's journal entry to record the issuance of the preferred stock. $($Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select $"$No Entry" for the account titles and enter $0$ for the amounts. List all debit entries before credit entries.$)$

$\backslash$table$[[$Date Account Titles and Explanation$],[$January$],[1,2026],[$Paid$-$in Capital in Excess of Par$-$Common Stock Debit$]]$