Concord Corporation was organized on January 1,2022. It is authorized to issue 14,000 shares of 8%,$100 par value preferred stock. and 511,000 shares of no-par common stock with a stated yalue of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 82,000 shares of common stock for cash at $6 per share. Mar. 1 Issued 4,850 shares of preferred stock for cash at $105 per share. Apr. 1. Issued 25,000 shares of common stock for land. The asking price of the land was $93,000. The fair value of the land was $82,000. May 1 Issued 76,500 shares of common stock for cash at $4.50 per share. Aug. 1 Issued 11,000 shares of common stock to attorneys in payment of their bill of $41,500 for services performed in helping the company organize. Sept: 1 Issued 12,000 shares of common stock for cash at $7 per share. Nov. 1 Issued 2.500 shares of preferred stock for cash at $112 per share. Date Account Titles and Explanation Debit Credit