Question 39 Current Attempt in Progress Concord Corporation issues 10700 shares of $50 par value preferred stock for cash at $75 per share. The entry to record the transaction will consist of a debit to Cash for $802500 and a credit or credits to Preferred Stock for $802500. Paid-in Capital from Preferred Stock for $802500 Preferred Stock for $535000 and Paid-in Capital in Excess of Par-Preferred Stock for $267500. Preferred Stock for $267500 and Paid-in Capital from Preferred Stock for $535000. Attempts: 0 of 1 used Save for Later Check