Horner Corporation is authorized to issue $1,000,000$ ordinary shares with a $$5$ par value. In $2024,$ its first year of operation, the company has the following share transactions:

Jan. $1$ Issued $500,000$ ordinary shares at $$7$ per share.

Jan. $15$ Paid the government $$2,000$ for incorporation fees.

Jan. $30$ Attorneys for the company accepted $500$ ordinary shares as payment for legal services rendered in helping the company incorporate. The legal services are estimated to have a value of $$5,000.$

July $2$ Issued $100,000$ shares for land. The land had an asking price of $$900,000.$ The stock is currently selling on a national exchange at $$8$ per share.

Sept. $5$ Purchased $15,000$ shares for the treasury at $$10$ per share.

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

Instructions

Journalize the transactions for Horner Corporation.