3. Issuance of Stock Thompson Corporation has 500,000 shares of $10 par common stock authorized. The following transactions took place during 2020, the rst year of the company's existence: 1/1/20 Sold 100,000 shares of common stock for $25 per share. 3/1/20 Issued 1,000 shares of common stock in exchange for land valued at $30,000. The market value of the stock is unknown. Instructions: Prepare the January 1 and March 1, 2020, journal