Sneed Corporation issues $10,600$ shares of $$51$ par preferred stock for cash at $$69$ per share. The entry to journalize the transaction will consist of a debit to Cash for $$731,400$ and a credit or credits to

a$.$ Preferred Stock for $$731,400$

b$.$ Preferred Stock for $$540,600$ and Paid$-$In Capital in Excess of Par$-$Preferred Stock for $$190,800$

c$.$ Preferred Stock for $$540,600$ and Retained Earnings for $$190,800$

d$.$ Paid$-$In Capital from Preferred Stock for $$731,400$