Ava School of Learning obtained a charter at the start of the year that authorized 50,000 shares of no-par common stock and 20,000 shares of preferred stock, par value $10. During the year, the following selected transactions occurred:

a.	Collected $31 cash per share from four individuals and issued 4,100 shares of common stock to each.
b.	Issued 5,100 shares of common stock to an outside investor at $31 cash per share.
c.	Issued 7,100 shares of preferred stock at $16 cash per share. 1 Record the issuance to four individuals of 4,100 shares each of common stock with no par value for a price of $31 per share. 2 Record the issuance to an outside investor of 5,100 shares of common stock with no par value for a price of $31 per share. 3 Record the issuance of 7,100 shares of preferred stock with a par value $10 for a price of $16 per share.