Peterson, Inc. issued 4,000 shares of preferred stock for $248,000. The stock has a par value of $62 per share. The journal entry to record this transaction would O A. credit Cash $248,000 and debit Preferred Stock $62 Par Value $248,000 O B. credit Cash $248,000, debit Preferred Stock - $62 Par Value $4,000, and debit Paid-In Capital in Excess of Par Preferred $244,000 O C. debit Cash $248,000, cre dit Preferred Stock - $62 Par Value $4,000, and credit Paid-In Capital in Excess of Par Preferred $244,000 O D. debit Cash $248,000 and credit Preferred Stock $62 Par Value $248,000 or