Ayayai Corporation has been authorized to issue 20,000 shares of $100 par value, 10%, preferred stock and 888,000 shares of no-par common stock. The corporation assigned a $2.40 stated value to the common stock. At December 31, 2022, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock Paid-in Capital in Excess of Par-Preferred Stock Common Stock Paid-in Capital in Excess of Stated Value-Common Stock Treasury Stock (800 common shares) Paid-in Capital from Treasury Stock Retained Earnings (a) (1) (2) (3) (4) $100,000 Issuance of preferred stock for land. Issuance of common stock for cash. 40,000 Purchase of common treasury stock for cash. Sale of treasury stock for cash. 888,000 The preferred stock was issued for land having a fair value of $140,000. All common stock issued was for cash. In November, 1,200 shares of common stock were purchased for the treasury at a per share cost of $11. In December, 400 shares of treasury stock were sold for $14 per share. No dividends were declared in 2022. 1,332,000 8,800 Prepare the journal entries for the: (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) 1,200 80.000

Ayayai Corporation has been authorized to issue 20.000 shares of $100 par value, 10%, preferred stock and 888,000 shares of no-par common stock. The corporation assigned a $2,40 stated value to the common stock. At December 31, 2022, the ledger contained the following balances pertaining to stockholders' equity. The preferred stock was issued for land having a fair value of $140,000. All common stock issued was for cash. In November, 1,200 shares of common stock were purchased for the treasury at a per share cost of \$11. In December, 400 shares of treasury stock were sold for $14 per share. No dividends were declared in 2022. (a) Prepare the journal entries for the: (List all debit entries before credit entries. Credit occount titles are automatically indented when amount is entered. Do not indent manually.) (1) Issuance of preferred stock for land. (2) Issuance of common stock for cash. (3) Purchase of common treasury stock for cash. (4) Sale of treasury stock for cash