Question 29 Waterway Corporation issues 11500 shares of $50 par value preferred stock for cash at $90 per share. The entry to record the transaction will consist of a debit to Cash for $1035000 and a credit or credits to O Preferred stock for $575000 and Pold-in Capital in Excess of Par-Preferred Stock for $460000. Preferred stock for $460000 and Paid in Capital from Preferred Stock for $575000 O Paid-in Capital from Preferred Stock for $1035000. O Preferred stock for $1035000