Discuss the journal entry to record the issuance

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A company issued 1,300 shares of $5 par value preferred stock for $6 per share. What is true about the journal entry to record the issuance?

Credit Additional Paid-In Capital $1,300

Debit Preferred Stock $7,800

Credit Cash $7,800

Credit Preferred Stock $7,800

Reference no: EM131782164

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