ISSUING COMMON AND PREFERRED STOCK. G. R. Clark, Inc., engaged in the following transactions during a recent year:

a) Sold 8,500 shares of $10 par common stock for $28.60 per share.

b) Sold 180 shares of 11%, $100 par preferred stock for $104 per share.

c) Exchanged 8,000 shares of $10 par common stock for 6 months’ rent on 10,000 square feet of retail space. (The retail space normally rents for $4 per square foot per month.)

d) Exchanged 115 shares of the 11%, $100 par preferred stock for a truck that had been owned by the firm’s president. The preferred stock was selling for $101 per share at the time of the exchange.

REQUIRED:

Prepare a journal entry for each of these transactions.