Kingbird Corporation issued $550$ shares of $$100$ par value preferred stock for $$63,400.$

Prepare Kingbird's journal entry. $($List all debit entries before credit entries. 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.$)$

Account Titles and Explanation

Debit

Credit