Concord Corporation has been authorized to issue 20,000 shares of $100 par value, 10%, noncumulative preferred stock and 902,400 shares of no-par common stock. The corporation assigned a $2.40 stated value to the common stock. At December 31, 2019, the ledger contained the following balances pertaining to stockholders' equity. Preferred Stock $125,000 Paid-in Capital in Excess of Par-Preferred Stock 17,500 Common Stock 902,400 Paid-in Capital in Excess of Stated Value-Common Stock 1,598,000 Treasury Stock (267 common shares) 3,204 Paid-in Capital from Treasury Stock 399 Retained Earnings 82,500 Accumulated Other Comprehensive Income 60,000 The preferred stock was issued for land having a fair value of $142,500. All common stock issued was for cash. In November, 400 shares of common stock were purchased for the treasury at a per share cost of $12. In December, 133 shares treasury stock were sold for $15 per share. No dividends were declared in 2019. Prepare the journal entries for the following: (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) (1) Issuance of preferred stock for land. (2) Issuance of common stock for cash. (3) Purchase of common treasury stock for cash. (4) Sale of treasury stock for cash. Credit No. Account Titles and Explanation 1. Cash Debit 142500 Preferred Stock 125000 Paid-in Capital in Excess of Par-Preferred Stock 17500 2. Cash 2500400 Common Stock 902400 Paid-in Capital in Excess of Stated Value-Common Stock 1598000 3. Treasury Stock 3204 Cash 3204 4. Cash 3603 Treasury Stock 3204 Paid-in Capital from Treasury Stock 399