Sunshine Corp. was organized on Jan. 1 with authorization of 20,000 shares of $5 preferred stock, $100 par, and 200,000 shares of $25 par common stock. Indicate the account that should be recorded in the Description column of the Journal item (2) as the credit account and the dollar amount in the amount columns assuming that Sunshine Corp on Jan . 15 received cash for the issuance of 2,000 shares of preferred stock at par value.

JOURNAL

Date	Description	P.Ref	DEBIT	CREDIT
Jan. 15	(1)		(?)
	(2)			(?)
	(2)			(?)

A. Preferred Stock credit $200,000

B. Preferred Stock credit for $10,000 and Paid-In Capital in Excess Par - Preferred Stock stock credit for $190,000

C. Cash credit for $200,000

D. Cash credit for $10,000

How do you work this example....I am so confused