Cottonmouth Welding and Fabricating Corporation sells pipe welding equipment. They just opened this business in January of this year. According to their charter, the par value of their common stock is $8. They are allowed to issue 200,000 shares. Record the transactions in their sales and issuance of stock.

(1) They received cash for 5,000 shares of common stock at par value.

(2) They received cash for 3,000 shares of common stock at $10 per share

. (3) They issued 1,000 shares of common stock at par value to the lawyer that helped them incorporate.

(4) They traded 12,000 shares of common stock to a person who owned land valued at $50,000 and a building valued at $91,000.

(5) They amended their charter in order to be able to sell preferred stock with par value of $10 and immediately sold 3,000 shares of preferred stock for $60,000.