Fairmount Inc. issued 2,000 shares of $50 par Preferred Stock at S45, receiving cash. Which journal entry is required for this transaction? DEBIT Cash $90,000; CREDIT Preferred Stock $90,000 DEBIT Preferred Stock $100,000. CREDIT Cash $90.000 CREDIT Paid-in Capital $10.000 DEBIT Cash $100,000; CREDIT Preferred Stock $100,000 DEBIT Cash $90,000DEBIT Paid-in Capital $10,000 CREDIT Preferred Stock $100.000