Multiple Choice Question 107 Sheffield Corporation issues 10100 shares of $50 par value preferred stock for cash at $75 per share. The entry to record the transaction wil consist of a debit to Cash for $757500 and a credit or credits to Preferred Stock for $505000 and Paid-in Capital in Excess of Par-Preferred Stock for $252500 Preferred Stock for $252500 and Paid-in Capital from Preferred Stock for $505000 Preferred Stock for $757500 Paid-in Capital from Preferred Stock for $757500 Click if you would like to Show Work for this question: Open Show Work