Retro Company is authorized to issue 10,000 shares of 8%, $100 par value preferred stock and 500,000 shares of no-par common stock with a stated value of $1 per share.If Retro issues 7,000 shares of preferred stock for land with an asking price of $875,000 and a market value of $770,000, which of the following would be the best journal entry for Retro to record? 
Definitions:
Q8: Regular dividends are declared out of<br>A)paid-in capital
Q41: What is the total stockholders' equity based
Q94: Wolford Company borrowed $2,000,000 from U.S.Bank on
Q99: Winrow Company received proceeds of $754,000 on
Q128: Cerner Corporation began business by issuing 300,000
Q149: Cash generated from operations exceeds investing needs,
Q176: In a common size balance sheet, the
Q193: Intracompany comparisons of the same financial statement
Q206: A permanent decline in the market value
Q208: If a corporation issued bonds at an