The Speed Company issues an additional 10 000 preferred shares for cash at $48.00 per share. The shares were issued with $30.00 payable on application and $18.00 on allotment. The entry to record the transaction will result in a debit to cash for $480,000.00 and credit(s) to: O preferred share for $480,000.00 O preferred share for $300,000.00 and allotment for $180,000 O preferred share for $300,000.00 and retained earnings for $158,000.00 O paid-up capital from ordinary shareholders for $300,000.00 and allotment for $180,000.00