Journalize in general journal format the following transactions. Jan $1$ Purchased land and buildings for $$761,500$ which included a charge of $$11,500$ for property tax for the period of Jan $1$ through June $30.$ Ten percent of the remainder is for the land and ninety percent is for the building. A mortgage of $$500,000$ is assumed and a cash down payment is made for the balance. Jan $31$ The old owners failed to do some basic upkeep on the used building. This was completed at a cost of $$31,000.$

Feb $14$ Some old shacks in the back of the building were torn down. Salvage in the amount of $$3,000$ was received.

Feb $15$ The warehouse was completed at a cost of $$48,000.$ The city inspectors discovered safety code problems which needed modifications and fined the company $$10,000.$

March $1$ The company issued $$50,000$ worth of common stock $($par value $$40,000)$ for a patent and a machine. The machine had a value of $$35,000.$

April $15$ The new machinery arrived for the warehouse. In addition, the company obtained a franchise to sell a well$-$known product. Payment was made by issuing bonds with a face value of $$60,000$ and cash of $$20,000.$ The value of the machinery was $$60,000$ and the value of the franchise was $$30,000.$