Exercise 15-6 Lindsey Hunter Corporation is authorized to issue 52,200 shares of $5 par value common stock. During 2014, Lindsey Hunter took part in the following selected transactions. 1. Issued 5,470 shares of stock at $47 per share, less costs related to the issuance of the stock totaling $8,440. 2. Issued 1,300 shares of stock for land appraised at $52,200. The stock was actively traded on a national stock exchange at approximately $48 per share on the date of issuance. 3. Purchased 530 shares of treasury stock at $41 per share. The treasury shares purchased were issued in 2010 at $37 per share. (a) Prepare the journal entry to record item 1. (b) Prepare the journal entry to record item 2. (c) Prepare the journal entry to record item 3 using the cost method.