Revenue stability affects ________

Tissues, Inc., began operations in January by issuing 10,000 shares of $0.10 par value common stock for $10 per share. It also issued 1,000 shares of $50 par value, 4%, noncumulative preferred stock for $50 each. Net income for the year was $500,000 and dividends were $44,000. The journal entry to record the issuance of the preferred stock includes a ______.

a. credit Preferred Stock $50,000 b. debit Preferred Stock $50,000 c. debit Cash $50,000 d. debit Cash $2,000 e. credit Preferred Stock $2,000 f. credit Cash $50,000 g. credit Cash $2,000 h. debit Preferred Stock $2,000

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Indicate whether the statement is true or false.