Ayayai Corporation is authorized to issue 250,000 shares of $1 par value common stock. During 2020, Ayayai Corporation took part in the following selected transactions. 1. Issued 53,000 shares of stock at $82 per share, less costs related to the issuance of the stock totaling $25,600. 2. Issued 9,000 shares of stock for land appraised at $787,500. The stock was actively traded on a national stock exchange at $84 per share on the date of issuance. 3. Purchased 6,300 shares of treasury stock at $80 per share. The treasury shares purchased were issued in 2009 at $49 per share. (a) Prepare the journal entry to record item 1. (b) Prepare the journal entry to record item 2. (c) Prepare the journal entry to record item 3 using the cost method