Oriole Company issues 68000 shares of $50 par value preferred stock for cash at $70 per share. The entry to record the transaction will consist of a debit to Cash for $4760000 and a credit or credits to Pald-in Capital from Preferred Stock for $4760000 Preferred Stock for $4760000 Preferred stock for $3400000 and Paid in Capital in Excess of Par Value-Preferred Stock for $1.360000 Preferred Stock for $3400000 and Retained Earnings for $1360000