Bridgeport Corporation was organized on January 1, 2020. It is authorized to issue15,000shares of 8%, $100par value preferred stock, and504,000shares of no-par common stock with a stated value of $2per share. The following stock transactions were completed during the first year.

Jan.10Issued85,000shares of common stock for cash at $4per share.Mar.1Issued5,150shares of preferred stock for cash at $110per share.Apr.1Issued22,000shares of common stock for land. The asking price of the land was $90,000. The fair value of the land was $84,000.May1Issued78,000shares of common stock for cash at $5.25per share.Aug.1Issued11,000shares of common stock to attorneys in payment of their bill of $43,000for services performed in helping the company organize.

Sept.1Issued12,000shares of common stock for cash at $7per share.Nov.1Issued1,000shares of preferred stock for cash at $113per share.

(a)

Journalize the transactions.(Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

Jan. 10

Mar. 1

Apr. 1

May 1

Aug. 1

Sept. 1

Nov. 1

Jan. 10

Mar. 1

Apr. 1

May 1

Aug. 1

Sept. 1

Nov. 1

Jan. 10

Mar. 1

Apr. 1

May 1

Aug. 1

Sept. 1

Nov. 1

Jan. 10

Mar. 1

Apr. 1

May 1

Aug. 1

Sept. 1

Nov. 1

Jan. 10

Mar. 1

Apr. 1

May 1

Aug. 1

Sept. 1

Nov. 1

Jan. 10

Mar. 1

Apr. 1

May 1

Aug. 1

Sept. 1

Nov. 1

Jan. 10

Mar. 1

Apr. 1

May 1

Aug. 1

Sept. 1

Nov. 1