Ayayai Corporation is authorized to issue 49,000 shares of $5 par value common stock. During 2020, Ayayai took part in the following selected transactions.

1.		Issued 4,900 shares of stock at $42 per share, less costs related to the issuance of the stock totaling $7,400.
2.		Issued 1,200 shares of stock for land appraised at $49,000. The stock was actively traded on a national stock exchange at approximately $43 per share on the date of issuance.
3.		Purchased 520 shares of treasury stock at $42 per share. The treasury shares purchased were issued in 2016 at $39 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.

(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

No.	Account Titles and Explanation	Debit	Credit
(a)	enter an account title to record the first item	enter a debit amount	enter a credit amount
	enter an account title to record the first item	enter a debit amount	enter a credit amount
	enter an account title to record the first item	enter a debit amount	enter a credit amount
(b)	enter an account title to record the second item	enter a debit amount	enter a credit amount
	enter an account title to record the second item	enter a debit amount	enter a credit amount
	enter an account title to record the second item	enter a debit amount	enter a credit amount
(c)	enter an account title to record the third item using the cost method	enter a debit amount	enter a credit amount
	enter an account title to record the third item using the cost method	enter a debit amount	enter a credit amount