The Snow Corporation issues 9,600 shares of 546 par value preferred stock for cash at $70 per share. The entry to record the transaction will consist of a debit to Cash for $672,000. What credit or credits will the entry consist of ? Select the correct answer Opered enock for $11.400 and Paid Capitalists of Par Value-Preferred stock for $280400 O Preferred Srock for $14.400 and Betained Earnings for $230.400. Preferred Stock for 5672.000 O Paid in Capital from Preferred frock for 3673.000. The Snow Corporation issues 9,600 shares of 546 par value preferred stock for cash at $70 per share. The entry to record the transaction will consist of a debit to Cash for $672,000. What credit or credits will the entry consist of ? Select the correct answer Opered enock for $11.400 and Paid Capitalists of Par Value-Preferred stock for $280400 O Preferred Srock for $14.400 and Betained Earnings for $230.400. Preferred Stock for 5672.000 O Paid in Capital from Preferred frock for 3673.000