The Snow Corporation issues 12,800 shares of $51 par value preferred stock for cash at $64 per share. The entry to record the transaction will consist of a debit to Cash for $519,200. What credit or credits will the entry consist of? Select the correct answell Preferred Stock for $652,800 and Retained Earnings for $166,400 Preferred stock for $652,800 and Paid in Capital in Excess of Par Value - Preferred Stock for $166,400 Paid in Capital from Preferred Stock for $819,200. Preferred Stock for $819,200. mgageNOWV2 Onlin x + eenow.com/ilrn/takeAssignment/takeAssignmentMain.do?invoker=&takeAssignme Calculator Retained earnings Oa. must be restricted by law. Ob. is the same as contributed capital. O. is equal to cash on hand. Od changes are summarized in the retained earnings statement