Issuing Stock Willow Creek Nursery, with an authorization of 26,000 shares of preferred stock and 200,000 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 507,300 Land 100,000 204,500 Buildings Preferred 2% Stock, $100 par Paid-In Capital in Excess of Par-Preferred Stock 290,000 14,500 Common Stock, $40 par 356,000 Paid-In Capital in Excess of Par-Common Stock 151,300 811,800 811,800 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. If an amount box does not require an entry, leave it blank. (2)