11 Current Attempt in Progress Ayayai Corporation was organized on January 1, 2022. It is authorized to issue 15,000 shares of 8%, $100 par value preferred stock, and 521,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan, 10 Issued 81.500 shares of common stock for cash at $6 per share. Mar 1 Issued 4,400 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 22,500 shares of common stock for land. The asking price of the land was $90.500. The fair value of the land was $89,000. May 1 Issued 80,000 shares of common stock for cash at $4.25 per share. Aug 1 Sept. 1 Nov. 1 Issued 11.500 shares of common stock to attorneys in payment of their bill of $39,500 for services performed in helping the company organize. Issued 11.500 shares of common stock for cash at $7 per share. Issued 3,000 shares of preferred stock for cash at $110 per share. there to search Journalize the transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually) Date Account Titles and Explanation Jan. 10 v Cash Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Mar. 1 Cash Preferred Stock Paid-in Capital in Excess of Par-Reeferred Stock Apr. 1 Cash Common Stock Debit 489000 462000 Credit 7641000 8550000 425 1/1900