HAPTER I4 14-179. Brandt Corporation is authorized to issue 100,000 shares of $5 stated value common stocl and 2,000 shares of $100 par value, 8 percent preferred stock. Prepare entries in journal form without explanations to record the following transactions Apr.15 Issued 1,000 shares of common stock to an attorney for a bill of $9,000 in connection with the organization of the corporation. Issued 1,000 shares of preferred stock for cash of $115 per share. 27 Issued 8,000 shares of common stock in exchange for land for a plant site valued at $50,000 May 1 Issued 15,000 shares of common stock for $90, 000 in cash. General Journal Page 1 Post. Ref. Date Description Debit Credit