Question 20 1 pts The Heady Corporation issues 20,000 shares of $60 par preferred stock for cash at $85 per share. The entry to record the transaction will consist of a debit to Cash for $1,700,000 and a credit or credits to Preferred Stock for $1,200,000 and Retained Earnings for $500,000 Preferred Stock for $1,700,000 Preferred Stock for $1,200,000 and Paid-In Capital in Excess of Par-Preferred Stock for $500,000 Paid-In Capital from Preferred Stock for $1,700,000