Hayslett Corporation was organized on January 1, 2008. It is authorized to issue 20,000 shares of 6%, $40 par value preferred stock, and 500,000 shares of no-par common stock with a stated value of $1per share. The following stock transactions were completed during the first year.

Jan. 10 Issued 80,000 shares of common stock for cash at $3 per share.

Mar. 1 Issued 10,000 shares of preferred stock for cash at $45 per share.

Apr. 1 Issued 25,000 shares of common stock for land. The asking price of the land was $90,000. The company's estimate of the fair market value of the land was $75,000.

May 1 Issued 75,000 shares of common stock for cash at $4 per share.

Aug. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill for $44,000 for services provided in helping the company organize.

Sept. 1 Issued 5,000 shares of common stock for cash at $6 per share.

Nov. 1 Issued 2,000 shares of preferred stock for cash at $48 per share.

a) Journalize the transactions.

b) post to the stockholder s equity accounts.( use J1 as the posting reference )

c) Prepare the paid in capital section of stockholder s equity at December 31,2008.