eBook Calculator Print Item Issuing Stock Willow Creek Nursery, with an authorization of 26,000 shares of preferred stock and 300,000 shares of common stock, completed several transactions involving its stock on October 1, the first day of operations. The trial balance at the dose of the day follows: Cash 383,500 Land 113,000 Buildings 230,200 Preferred 2% Stock, $100 par 330,000 Paid-In Capital in Excess of Par-Preferred Stock 13,200 Common Stock, $40 par 260,000 Paid-In Capital in Excess of Par-Common Stock 123,500 726,700 726,700 All shares within each class of stock were sold at the same price. The preferred stock was issued in exchange for the land and buildings. Journalize the entries to record the (1) common and (2) preferred stock transactions summarized in the trial balance. If an amount box does not require an entry, leave it blank. (1) If an amount box does not require an entry, leave it blank Check My Work 4 more Check My Work uses remaining