Alpha Sounds Corp., an electric guitar retailer, was organized by Michele Kirby, Paul Glenn, and Gretchen Northway. The charter authorized $1,000,000$ shares of common stock with a par of $$1.$ The following transactions affecting stockholders equity were completed during the first year of operations:a$.$ Issued $100,000$ shares of stock at par to Paul Glenn for cash.b$.$ Issued $3,000$ shares of stock at par to Michele Kirby for promotional services provided in connection with the organization of the corporation and issued $45,000$ shares of stock at par to Michele Kirby for cash.c$.$ Purchased land and a building from Gretchen Northway in exchange for stock issued at par. The land has a fair value of $$60,000,$ and the building has a fair value of $$120,000.$Required:Journalize in proper format the entries to record the transactions a$,$ b$,$ and c above.Instructions:Must submit this PQ using an Excel worksheet.Must show all required computations using Excel to support the solution.Two bonus points are awarded for using Excel for all required computations and organization $($