Jan. 10 Issued 77,000 shares of common stock for cash at $6 per share. Mar. 1 Issued 5,800 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 25,000 shares of common stock for land. The asking price of the land was $88,000. The fair value of the land was $81,000. May 1 Issued 76,000 shares of common stock for cash at $4.25 per share. Aug. 1 Issued 10,500 shares of common stock to attorneys in payment of their bill of $36,000 for services performed in helping the company organize. Sept. 1 Issued 12,000 shares of common stock for cash at $5 per share. Nov. 1 Issued 3,000 shares of preferred stock for cash at $112 per share. Your answer is correct. Joumalize the transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are autor \begin{tabular}{|c|c|c|c|} \hline Date & Account Titles and Explanation & Debit & Credit \\ \hline \multirow[t]{3}{*}{Jan10} & Cash & 452000 & \\ \hline & Common Stock & & 231000 \\ \hline & Pald-in Capltal in Excess of Stated Value-Common Stock & & 231000 \\ \hline \multirow[t]{3}{*}{ Mar. 1} & Cash. & 609000 & \\ \hline & Preferred Stock & & 580000 \\ \hline & Pald-In Capltal In Excess of Par-Preferred Stock & & 29000 \\ \hline \multirow[t]{3}{*}{ Apr. 1} & Land & 81000 & \\ \hline & Common Stock & & 75000 \\ \hline & Pald-in Capital in Excess of Stated Value-Common Stock. & & 6000 \\ \hline \multirow[t]{3}{*}{May1} & Cash & 323000 & \\ \hline & Common Stock & & 228000 \\ \hline & Pald-in Capltal in Excess of Stated Value-Common Stock & & 95000 \\ \hline \multirow[t]{3}{*}{ Aug. 1} & Organization Expense & 36000 & \\ \hline & Common Stock & & 32500 \\ \hline & Pald-in Capltal in Excess of Stated Value-Common Stock & & 4500 \\ \hline \multirow[t]{3}{*}{ Sept.1 } & Cash. & 60000 & \\ \hline & Common Stock & & 36000 \\ \hline & Pald-in Capltal in Excess of Stated Value-Common Stock & & 24000 \\ \hline \multirow[t]{3}{*}{ Nov. 1} & Cash & 336000 & \\ \hline & Preferred Stock & & 300000 \\ \hline & Pald-in Capltal in Excess of Par-Preferred Stock & & 36000 \\ \hline \end{tabular} rious part.) (c) FLOUNDER CORPORATION Balance Sheet (Partial) $ $ $