Sneed Corporation issues 9,100 shares of $47 par preferred stock for cash at $63 per share. The entry to record the transaction will consist of a debit to Cash for $573,300 and a credit or credits to

a.Preferred Stock for $573,300.

b.Preferred Stock for $427,700 and Retained Earnings for $145,600.

c.Paid-In Capital from Preferred Stock for $573,300.

d.Preferred Stock for $427,700 and Paid-In Capital in Excess of ParPreferred Stock for $145,600.