Question 2 Waterway Company is authorized to 3000 shares of 7%, $100 par value preferred stock and 540000 shares of ropar common stock with a stated value of $1 per share. If waterway issues 4000 shares of preferred stock for land with an a ng price of $577000 and a market value of $546000, which of the following would be the journal entry for waterway to record? O 545000 Land Preferred Stock Paid-in Capital in Excess of 400000 146000 referred Land Preferred Stock 400000 400000 SAGODO 546000 52000 and Preferred Stock Land Preferred Stock Paid Ca O r red Click if you would like to show Work for this question on work