Question 7 Unsaved David Corporation issues 15,000 shares of $50 par value preferred stock for cash at $60 per share. The entry to record the transaction will consist of a debit to Cash for $900,000 and a credit or credits to options: A) Preferred Stock for $900,000. B) Preferred Stock for $750,000 and Paid-in Capital in Excess of Par ValuePreferred Stock for $150,000. C) Preferred Stock for $750,000 and Paid-in Capital from Preferred Stock for $150,000. D) Paid-in Capital from Preferred Stock for $900,000.