Cash and Noncash Share Issuances Skelton Corporation was organized on June 1. The company's charter authorizes 500,000 shares of $5 par value common stock. On July 1 , the attorney who helped organize the corporation accepted 600 shares of Skelton common stock in settlement for the services provided (the services were valued at $8,000 ). On July 15 , Skelton issued 6,000 common shares for $65,000 cash. On September 15 , Skelton issued 2,000 common shares to acquire a vacant land site appraised at $28,000. Prepare the journal entries to record the stock issuances on July 1, July 15, and September 15