Bramble Corporation was organized on January 1, 2020. It is authorized to issue10,500shares of 8%, $100par value preferred stock, and477,000shares of no-par common stock with a stated value of $2per share. The following stock transactions were completed during the first year.

Jan.10 Issued75,500shares of common stock for cash at $4per share.

Mar.1 Issued5,650shares of preferred stock for cash at $105per share.

Apr.1 Issued25,000shares of common stock for land. The asking price of the land was $86,500. The fair value of the land was $83,000.

May.1 Issued84,500shares of common stock for cash at $4.25per share.

Aug.1 Issued11,000shares of common stock to attorneys in payment of their bill of $41,000for services performed in helping the company organize.

Sept.1 Issued10,000shares of common stock for cash at $6per share.

Nov.1 Issued2,500shares of preferred stock for cash at $111per share.

1. Journalize the transactions.
2. Post to the stockholders' equity accounts.
3. Prepare the paid-in capital section of stockholders' equity at December 31, 2020.