Issuing Stock

selected transactions were completed during the first year of operations:

Journalize the transactions.

July $1.$ Issued $125,000$ shares of common stock at par for cash. If an amount box does not require an entry, leave it blank.

July $1$

July $1$ Issued $550$ shares of common stock at par to an attorney in payment of legal fees for organizing the corporation. If an amount box does not require an entry, leave it blank.

July $1$

Aug. $7$

Sept. $20.$ Issued $35,000$ shares of preferred stock at $$49$ for cash. If an amount box does not require an entry, leave it blank.

Sept. $20$

I