issued 1,000 shares of $20 par common stock at $50 for cash

1. Prepare entries to record the transactions for Maine Corp.: (a) Issued 1,000 shares of $20 par common stock at $50 for cash. (b) Issued 1,500 shares of $20 par common stock in exchange for land with a fair market price of $100,000. (c) Issued 400 shares of preferred 2% stock $50 par at $80. Issued 600 shares of preferred 2 % stock $50 par at par. (d)