Fortuna Company is authorized to issue 1,000,000 shares of $1 par value common stock. In its first year, the company has the following transactions: Jan. 31 Issued 39,000 shares at $11 per share. Jun, 10 issued 130,000 shares in exchange for land with a clearly determined value of $810,000 Aug. 3 Purchased 9,000 shares of treasury stock at $9 per share. A. Prepare the Journal entries to record the transactions. If an amount box does not require an entry, leave It blank. Jan. 31 Jun. 10 Aug. 3 B. Calculate how many shares of stock are outstanding at August 3. shares