4.Pearl Corporations charter authorized issuance of 96,000 shares of $10 par value common stock and 45,800 shares of $50 preferred stock. The following transactions involving the issuance of shares of stock were completed. Each transaction is independent of the others. 1. Issued a $10,600, 9% bond payable at par and gave as a bonus one share of preferred stock, which at that time was selling for $115 a share. 2. Issued 450 shares of common stock for equipment. The equipment had been appraised at $7,700; the sellers book value was $5,700. The most recent market price of the common stock is $16 a share. 3. Issued 339 shares of common and 93 shares of preferred for a lump sum amounting to $10,100. The common had been selling at $14 and the preferred at $66. 4. Issued 220 shares of common and 54 shares of preferred for equipment. The common had a fair value of $16 per share; the equipment has a fair value of $7,100. Record the transactions listed above in journal entry form. (Round Round intermediate calculations to 6 decimal places, e.g. 0.546872 and final answers to 0 decimal places, e.g. $38,487. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) No. Account Titles and Explanation Debit Credit 1. 2. 3. 4. eTextbook and Media List of AccountsAssistance Used Bonds Payable Buildings Cash Common Stock Common Stock Dividend Distributable Debt Investments Dividends Payable Discount on Bonds Payable Equipment Equity Investments Income Summary Land Legal Fees Expense No Entry Organization Expense Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par - Common Stock Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Stated Value - Common Stock Preferred Stock Property Dividends Payable Retained Earnings Retained Earnings Appropriated for Plant Expansion Share Capital-Ordinary Share Capital-Preference Share Premium-Conversion Equity Share Premium-Ordinary Share Premium-Preference Treasury Stock Unamortized Bond Issue Costs Unrealized Holding Gain or Loss - Income