4) Avon corporation began business this year. The company is authorized to issue 500,000 shares of $100 par value, 6%, noncumulative, preferred stock, and 1,000,000 shares of no-par common stock. The following selected transactions occurred during this year: March 5 Issued 250 shares of preferred stock for $102 cash per share. July 15 Exchanged 750 shares of common stock for $12,000 in legal services incurred in the organization of the company. Prepare journal entries to record these transactions