Horner Corporation is authorized to issue 1,000,000 ordinary shares with a $5 par value. During 2020 , 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. At the time of the paying legal service fee, there is no established reliable market price for the shares. 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. Instructions Journalize the transactions for Horner Corporation