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XYZ Company sold 2,000 shares of preferred stock at $75 per share. The stock issuance costs amounted to $3,000. Requirements: a. Prepare the journal entry

XYZ Company sold 2,000 shares of preferred stock at $75 per share. The stock issuance costs amounted to $3,000. Requirements: a. Prepare the journal entry to record the issuance of preferred stock by XYZ Company. b. Calculate the total amount of cash received from the issuance. c. Record the preferred stock account. d. Determine the amount of stock issuance costs to be capitalized.

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