Question 39 (3 points) For items 38, 39 and 40 use the following information. The Golden Rams Corporation is granted a charter that authorizes the issuance of 100,000 shares of $50 par value preferred stock and 300,000 shares of $10 par value common stock. What is the journal entry to record the following transaction? Golden Rams issued 10,000 shares of preferred stock for cash at $60 per share. O Debit: Cash, 600,000; Credit: Preferred Stock, 100,000 and Paid-in Capital in Excess of Par-Preferred, 500,000 Debit: Cash, 600,000; Credit: Preferred Stock, 500,000 and Paid-in Capital in Excess of Par-Preferred, 100,000 Debit: Cash, 600,000; Credit: Preferred Stock, 600,000 O Debit: Cash, 500,000; Credit: Preferred Stock, 500,000