The Snow Corporation issues 11, 500 shares of S 45 par value preferred stock for cash at $60 per share. The entry to record the transaction trill consist of a debit to Cash for $690,000. What credit or credits will the entry consist of? Select the correct answer. Preferred Stock for $690,000. Preferred stock for $517, 500 and Paid-in Capital in Excess of Par Value - Preferred Preferred Stock for $517, 500 and Retained Earnings for $172, 500. Paid-in Capital front Preferred Stock for $690,000