The joumal entry to account for the issuance of 50.000 shares of $100 par, 10% preferred stock at a market price of $120 per share would contain which of the following? A dobit to cash for $500,000 A dobit to cash for $600,000 A crevit to preferred stock- $100 par for $600,000 A credit to PiC-Preferred for $500,000