Ex.12-175 Please use the correct chart names and values as I will use the answers as soon as they're provided. I will also leave a like once completed ASAP. Thanks. All lines on the chart are required to be filled.

Instructions A corporation was organized on January 1 of the current year, with an authorization of 20,000 shares of 4%, $12 par preferred stock, and 100,000 shares of $3 par common stock The following selected transactions were completed during the first year of operations: Jan. 3 Issued 15,000 shares of common stock at $23 per share for cash. 31 Issued 200 shares of common stock to an attorney in payment of legal fees for organizing the corporation. The value of the stock at the time of payment was $25 per share. Feb. 24 Issued 20,000 shares of common stock in exchange for land, buildings, and equipment with fair market prices of S65,000, $120,000, and $45,000 respectively. Issued 2,000 shares of preferred stock at S56 for cash. Mar. 15 Required: Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. Chart of Accounts CHART OF ACCOUNTS General Ledger REVENUE ASSETS 110 Cash 410 Sales 810 Interest Revenue 120 Accounts Receivable 131 Notes Receivable 132 Interest Receivable 141 Merchandise Inventory 145 Supplies 151 Prepaid Insurance 181 Land 191 Building 192 Accumulated Depreciation Building 193 Equipment 194 Accumulated Depreciation Equipment EXPENSES 510 Coast of Merchandise Sald 515 Credit Card Expense 520 Salaries Expense 531 Advertising Expense 532 Delivery Expense 533 Rent Expense 534 Insurance Expense 535 Supplies Experise 538 Organizational Expenses 561 Depreciation Expanse Building 562 Depreciation Expense Equipment 590 Miscellaneous Expense 710 Interest Expense LIABILITIES 210 Accounts Payabile 221 Notes Payable 228 Interest Payable 231 Cash Dividends Payable 241 Salaries Payable 281 Mortgage Note Payable EQUITY 311 Preferred Stock 312 Paid In Capital in Excess of Par Preferred Stock 321 Common Stock 322 Paid In Capital in Excess of Par Corner Stock 323 Paid In Capital in Excess of Sated Value Common Stock 331 Treasury Stock 332 Paid-In Capital from Saks of Treasury Slack 338 Stock Dividends Distributable 340 Retained Earrings 351 Cash Dividends 352 Stock Dividends 390 Income Surtmary General Journal Journalize for the each transaction. Refer to the Chart of Accounts for exact wording of account titles. PAGE 1 JOURNAL DATE DESCRIPTION POST. REF. DEBIT CREDIT 1 2 3 4 5 7 8 9 10 11 12 13 14