a$.$ What is a corporation? What is paid$-$in capital?

b$.$ Nolan Corporation is authorized to issue $1,000,000$ shares of $$4$ par value common stock. In its first year, the

company has the following stock transactions. Journalize the following transactions for June $2023.$

June $1$ Issued $400,000$ shares of stock at $$4$ per share.

June $10$ Issued $400,000$ shares of stock at $$9$ per share.

June $15$ Issued $100,000$ shares of stock for land. The land had an asking price of $$900,000.$ The stock is currently

trading at $$8\mathrm{.}25$ per share.

June $30$ Issued $2,000$ shares of stock to attorneys in payment of a bill for $$9,000$ for services performed in helping the

company to incorporate.