Kings Landing, Inc. issues 50,000 shares of $10 par value preferred stock for $90 per share. The journal entry to record the transaction would include a

Credit to Paid-in Capital in Excess of Par ValuePreferred Stock for $4,000,000.

Debit to Preferred Stock for $500,000.

Credit to Preferred Stock for $4,500,000.

Debit to Treasury Stock for $4,500,000.