Logan corporation issues 30,000 shares of $50 par value preferred stock for cash at $60 per share. the entry to record the transaction will consist of a debit to cash for %1,800,000 and a credit or credits to

a. preferred stock for $1,800,000

b. preferred stock for $1,500.000 and paid in capital in excess of par value preferred stock for $300.000

c. preferred stock for $1,500,000

d. paid in capital from preferred stock for $1,800,000