please explain to me step by step

Question 7 of 8 -/1 View Policies Current Attempt in Progress Tamarisk, Inc. issues 8,300 shares of $105 par value preferred stock for cash at $116 per share. Journalize the issuance of the preferred stock. (Credit account titles are automatically Indented when amount is entered. Do not Indent manually. If no entry is required, select "No Entry for the account tities and enter for the amounts.) Account Titles and Explanation Debit Credit Cash Preferred Stock Pald in Capital in Excess of Par Value-Preferred Stock e Textbook and Media List of Accounts Safor Later Attempts: 0 or 3 used Submit