Concord Corpoeration issues 53000 shares of $50 par value preferred stock for cash at $75 per share The entry to recond the transacton wi consist of a debt to Cash fr $3975000 and s redt or credits to O Pid-in Capital from Prefeed Stock for $3975000. O Preferred Stock for $3975s000 O Preferred Stock for $2650000 and Retained Eamings for $1325000. Orefeed Stock for $2650000 and Paid-in Captal in txss of Par Valu-Prfeed Stock for $1325000