Exercise 15-2 Ivanhoe Corporation was o anized on January 1 2017. It is authorized to issue 10 100 shares of 8% $100 par value preferred stock and 541,900 shares of no par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year Issued 80,150 shares of common stock for cash at $6 per share. issued 5,240 shares of preferred stock for cash at $111 per share. Apr. Issued 24,860 shares of common stock for land. The asking price of the land was $90,530; the fair value of the land was $80,150. Issued 80,150 shares of common stock for cash at $9 per share. issued 10,100 shares of common stock to attorneys in payment of their bill of $54,900 for services rendered in helping the company organize Issued 10,100 shares of common stock for cash at $11 per share Issued 1,070 shares of preferred stock for cash at $120 per share. Prepare the journal entries to record the above transactions. (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 0 for the amounts.) Date Account Titles and Explanation Debit Credit