Issuing stock Willow Creek Nursery, with an authorization of 17,000 shares of preferred stock and 350,000 shares of common stock, completed several transactions involving its stock on October 1, the first day of operations. The trial balance at the close of the day follows: Cash Land Buildings Preferred 2% Stock, $100 par Paid-In Capital in Excess of Par Preferred Stock Common Stock, $40 par Paid-In Capital in Excess of Par-Common Stock 444,600 99,000 199,700 290,000 8,700 312,000 132,000 743,300 743,300 All shares within each class of stock were sold at the same price. The preferred stock was issued in exchange for the land and buildings. Journalize the entries to record the (1) common and (2) preferred stock transactions summarized in the trial balance. If an amount box does not require an entry, leave it blank. Transaction (1) Account Debit Credit 000