Alpha Sounds Corp, an electric gular retailec, was erganized by Michele Kity, Piul Glenn, and Gretcheo Northway. The charter authorized 1,000,000 shares of common stock with a cot of 51. The following transactions allecting stockholders egvite wee cornploted dunng the ferst year of operations: Jan. 2 insued 110,000 shares of shock at par to Paul Gient for cash. 5 Issued 2,200 shares of stock at par to Mechele Krby for promosional services provided in connection with the orgarization of the coporason and issued 42,100 shares of stock at par to Michele Kirby for cash. (fecord as two separate transactions) 6. Purchased land and a builing from Geptchen Northway in exchange lor sock issued at par. The bulding is mortgaged for $177,000 for 20 yours at 6%, and there is aecrued interest of $5.600 on the mortgage note at the time of the purchase. It is agreed that the land is to be priced at $63.800 and the Jan. 2 Bsued 110,000 shaves of slock al par to Paul Gienin for cash. 5. Issued 2.200 shares of stock at par to Michele Kirby for peomotional services provided in cornection with the crganization of the corporation and issued 42,100 shares of atock at par to Michele Kirby for cash, (record as two separate transactions.) 8. Purchased land and a building from Gretchen Northway in exchange for sock issued at par. The building is mortgaged for $177,000 for 20 years at 6%, and there is accrued interest of $5,300 on the mongage note at the tirve of the purchase. It is agreed that the land is to be priced at $63.800 and the bulding at $224,400 and that Gretchen Northway's equity will be exchanged tor stock at par. The corporation agreed to assume tesponsibilty for paying the mortgage note and the accnaed interest. Joumalize the entries to recond the transactions. Aeler fo the Chart of Accounts for exact warding of account bites