Mary$-$Cook Corporation issued $260,000$ shares of $$20$ par value, $5\%$ preferred stock on January $1,2018,$ for $$5,850,000.$ In December $2020,$ Mary$-$Cook declared its first dividend of $$820,000.$

$($a$)$

Prepare Mary$-$Cook's journal entry to record the issuance of the preferred stock. $($List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually.$)$

Account Titles and Explanation

Debit

Credit