Halpern Corporation is authorized to issue $1,000,000$ shares of $$3$ par value common stock.

During $2021,$ its first year of operation, the company has the following stock transactions.

Jan. $1$ Paid the state $$5,000$ for incorporation fees.

Jan. $15$ Issued $500,000$ shares of stock at $$5$ per share.

Jan. $30$ Attorneys for the company accepted $400$ shares of common stock as payment for legal

services rendered in helping the company incorporate. The legal services are estimated to have a value

of $$7,000.$

July $2$ Issued $100,000$ shares of stock for land. The land had an asking price of $$900,000.$ The

stock is currently selling on a national exchange at $$6$ per share.

Sept. $5$ Purchased $15,000$ shares of common stock for the treasury at $$9$ per share.

Dec. $6$ Sold $11,000$ shares of the treasury stock at $$11$ per share.

Instructions

Journalize the transactions for Halpern Corporation. SHOW YOUR WORK..