Vaughn Manufacturingues 63000 shares of $50 para preferred stock for cash at $65 per share. The entry to record the transaction will consist of a debatts Cash for $4095000 and a credit or credits to Preferred Stock for $3150000 and Paid In Capital in Excess of Paru-Preferred Stock for $945000 Preferred Stock for $3150000 and Retained Earnings for $945000 Paid in Coll from Preferred Stock for $4095000 Preferred Stock for $4095000