Homework 13-1 Happy was organized on January 1, 2024. It is authorized to issue 10,000 shares of 6%,$100 par value preferred stock and 500,000 of $1 par value stock. Prepare the entries for the following transactions and the paid in capital portion of the stockholders' equity: Issued 80,000 shares of common stock at $6 per share. Jan. 10 Issued 5,000 shares of preferred stock at $108. Mar. 1 Issued 24,000 shares of common stock for land valued at $95,000. Apr. 1 Issued 80,000 shares of common stock for $8 per share. May. 1 Issued 10,000 shares of common stock to the attorneys who helped formed Happy. The value of their services were $45,000. Aug. 1 Happy Corporation Paid in Capital Preferred Stock, $100 par, 10,000 shares authorized, 5,000 shares issued and outstanding Common Stock, no par, \$1 par value, 500,000 shares authorized, 194,000 shares issued and outstanding Paid in Capital in Excess-Preferred Paid in Capital in Excess-Common Total Paid in Capital