Farris Inc. issues 8,000 shares of $100 par value preferred stock for cash at $108 per share. Journalize the issuance of thepreferred stock.

Farris Inc. issues 8,000 shares of $100 par value preferred stock for cash at $108 per share. Journalize the issuance of thepreferred stock. (List multiple debit/credit entries from largest to smallest amount, e.g. 10, 5, 2.)