Question 12 1 pts Sneed Corporation is 10,000 shares of $50 par preferred stock for cash at 75 per share. The entry to record the transaction will conut of a debit to Cash for $750,000 and a credit or credits to Preferred Stock for $750,000 Paid In Capital from Preferred Stock for $750,000 Preferred Stock for $500,000 and Retained Earnings for $250,000 Preferred Stock for $500,000 and Paid In Capital in Excess of ParPreferred Stock for $250,000