Jackie Remmers Corporation was organized on January 1, 1998. It is authorized to issue 20,000 shares of \(6 \%\), \(\$ 50\) par value preferred stock and 500,000 shares of no-par common stock with a stated value of \(\$ 1\) per share. The following stock transactions were completed during the first year:

Jan. 10 Issued 100,000 shares of common stock for cash at \(\$ 3\) per share.

Mar. 1 Issued 10,000 shares of preferred stock for cash at \(\$ 51\) per share.

May 1 Issued 75,000 shares of common stock for cash at \(\$ 4\) per share.

Sept. 1 Issued 5,000 shares of common stock for cash at \(\$ 6\) per share.

Nov. 1 Issued 2,000 shares of preferred stock for cash at \(\$ 53\) per share.

\section*{Instructions}

(a) Journalize the transactions.

(b) Post to the stockholders' equity accounts. (Use \(\mathrm{T}\) accounts.)

(c) Prepare the paid-in capital portion of the stockholders' equity section at December 31, 1998 .