Sneed Corporation issues 10,300 shares of $54 par preferred stock for cash at $60 per share. The entry to record the transaction will consist of a debit to Cash for $618,000 and a credit or credits to a. Preferred Stock for $618,000. b. Preferred Stock for $556,200 and Paid In Capital in Excess of Par-Preferred Stock for $61,800. C Paid In Capital from Preferred Stock for $618,000. d. Preferred Stock for $556,200 and Retained Earnings for $61,800