101 Happy was organized on January 1, 2024. It is authorized to issue 10,000 shares of 6%,$100 par 102 value preferred stock and 500,000 of $1 par value stock. Prepare the entries for the following transactions 103 and the paid in capital portion of the stockholders' equity: 104 105 Issued 80,000 shares of common stock at $5 per share. 106 Jan. 10 Mar. 1 Issued 24,000 shares of common stock for land valued at $90,000. Apr. 1 Issued 80,000 shares of common stock for $6 per share. May. 1 Issued 10,000 shares of common stock to the attorneys who helped formed Happy. The value of their services were $40,000. Aug. 1 Happy Corporation Paid in Capital Preferred Stock, $100 par, 10,000 shares authorized, 5,000 shares issued and outstanding Common Stock, no par, $1 par value, 500,000 shares authorized, 194,000 shares issued and outstanding Paid in Capital in Excess-Preferred Paid in Capital in Excess-Common Total Paid in Capital