Windsor Corporation showed the following information on its financial statements on December $31,2024$:Preferred Shares, no par value, $$6$ cumulative, $400,000$ shares authorized, $190,000$ shares issued and outstanding$$19,000,000$Common Shares, no par value, unlimited shares authorized, $430,000$ shares issued and outstanding$$10,750,000$The following transactions occurred, in the order given, during $2025$:$($a$)$April $15$: Received subscriptions and down payments for $100,000$ common shares at $$33$ per share. The subscription contracts call for $50\%$ of the subscription price to be paid upon receipt, and the remaining $50\%$ to be paid on June $30.$ In the event of default on the subscriptions, the company will retain the down payment.$($b$)$May $1$: Issued $90,000$ preferred shares at $$125$ per share.$($c$)$June $30$: Received payment for $70,000$ of the subscribed common shares; the remaining $30,000$ defaulted. Issued the share certificates for the appropriate number of shares.$($d$)$August $5$: Repurchased and cancelled $30,000$ common shares at a cost of $$20$ per share.$($e$)$September $15$: Declared dividends for preferred shares $($dividends had not been paid the previous year$).$ Also declared $$1\mathrm{.}50$ per share dividend for common shares. Both dividends are to be paid on November $1$ to shareholders of record on October $1.($f$)$If the preferred shares had a $$100$ par value, what would be the journal entry for the May $1$ issuance of preferred shares in part $($b$)?$