Issuing Stock Willow Creek Nursery, with an authorization of 19,000 shares of preferred stock and 260,000 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 377,000 Land 109,000 Buildings 220,600 Preferred 2% Stock, $100 par Paid-In Capital in Excess of Par-Preferred Stock 320,000 9,600 Common Stock, $40 par 260,000 Paid-In Capital in Excess of Par-Common Stock 117,000 706,600 706,600 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. (1) Cash Common Stock Paid-In Capital in Excess of Par-Common Stock Feedback If an amount box does not require an entry, leave it blank. (2) Buildings Land Preferred Stock Paid-In Capital in Excess of Par-Preferred Stock