Grid Iron Prep Incorporated (GIPI) is a service businessincorporated in January of the current year to provide personaltraining for athletes aspiring to play college football. Thefollowing transact 1 GIPI issued stock in exchange for \( \$ 180,000 \) cash on \( 1 / 01 \). Record the transaction. 2 GIPI purchased a gymnasium building and gym equipment on \( 1 / 02 \) for \( \$ 56,000,80 \% \) of 1 answer