Jackson Browne Corporation is authorized to issue 1,000,000 shares of $1 par value common stock. During 2021, its first year of operation, the company has the following stock transactions. Jan. 1 Paid the state $6,000 for incorporation fees. Jan. 15 Issued 500,000 shares of stock at $5 per share. Jan. 30 Attorneys for the company accepted 400 shares of common stock as payment for legal services rendered in helping the company incorporate. The legal services are estimated to have a value of $8,000. July 2 Issued 100,000 shares of stock for land. The land had an asking price of $800,000. The stock is currently selling on a national exchange at $7 per share. Sept. 5 Purchased 10,000 shares of common stock for the treasury at $9 per share. Dec. 6 Sold 7,000 shares of the treasury stock at $12 per share. Instructions Indicate the accounts and their respective balances that are increased and/or decreased in the above transactions for Jackson Browne Corporation