Cash and Noncash Share Issuances Chavoy Corporation was organized on July 1. The company's charter authorizes 100,000 shares of $12 par value common stock. On August 1, the attorney who helped organize the corporation accepted 800 shares of Chavoy common stock in settlement for the services provided (the services were valued at $18,600). On August 15, Chavoy issued 5,000 common shares for $84,000 cash. On October 15, Chavoy issued 3,000 common shares to acquire a vacant land site appraised at $57,000. Prepare the journal entries to record the stock issuances on August 1, August 15, and October 15. Date Aug. 1 Organization Cost General Journal Description Debit Credit 05 Common Stock Paid-in-Capital in excess of Par Value 0 0 0 0 Issued common shares in exchange for legal servicesto help organize the corporation. Aug. 15 Cash 0 0 Common Stock 0 0 Paid-in-Capital in excess of Par Value 0 0 Issued shares for cash onAugust 15. Oct. 15 Land Common Stock Paid-in-Capital in excess of Par Value Issued common shares for land. " 0 0 0 ooo 0 0