CALCULATOR BACK NEIT Question 3 Sarasota Corporation was organized on January 1, 2020. It is authorized to issue 14,500 shares of 8%, 5100 par value preferred stock, and 533,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year Jan. 10 Issued 78,000 shares of common stock for cash at $6 per share Mar 1 Issued 4,750 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 24,000 shares of common stock for land. The asking price of the land was $87,000. The fair value of the land was $87,000 May 1 Issued 76,500 shares of common stock for cash at $4.25 per share. Aug. 1 Issued 11,000 shares of common stock to attorneys in payment of their be of $42,000 for services performed in helping the company organize Sept. 1 Issued 11,500 shares of common stock for cash at $5 per share. Nov. 1 Issued 1,500 shares of preferred stock for cash at $108 per share. CALCULA RCES d (a) Journalize the transactions. (Record journal antries in the order presented in the problem. Credit account ttles are automatically inch not indent manually.) Data Account Titles and Explanation Dobit Credit Study by Study >