On January 1, 2018, Illusions, Inc. issued 900 shares of $95 par value, callable preferred shares for $110,000, with the right to call the shares on January 1, 2019 for $100 per share. The company calls all 900 shares on January 1, 2019. What is the necessary journal entry to record this transaction for 2019? A. Cash 110,000 Common Stock Preferred Stock-$95 Par B. Preferred Stock-$95 Pari 24,500 85,500 85,500 Add Paid-in Capital in Excess of Par-Preferred Cash 24,500 90,000 Additional Paid-in Capital from Retirement of Preferred Stock 20,000 110,000 OC. Cash Preferred Stock-$95 Par- 85,500 Add. Paid-in Capital in Excess of Par-Preferred 24,500 Clear all Final check