Sneed Corporation issues $12,100$ shares of $$48$ par preferred stock for cash at $$70$ per share. The entry to journalize the transaction will consist of a debit to Cash for $$847,000$ and a credit or credits to

a$.$ Preferred Stock for $$847,000$

b$.$ Paid$-$In Capital from Preferred Stock for $$847,000$

c$.$ Preferred Stock for $$580,800$ and Retained Earnings for $$266,200$

d$.$ Preferred Stock for $$580,800$ and Paid$-$In Capital in Excess of Par$-$Preferred Stock for $$266,200$