journalize

Instructions A corporation was organized on January 1 of the current year, with an authorization of 20,000 shares of 4%, 512 par preferred stock, and 100,000 shares of $3 par common stock The following selected transactions were completed during the first year of operations Jan. 3 31 Issued 15,000 shares of common stock at 523 per share for cash Issued 200 shares of common stock to an attorney in payment of legal fees for organizing the corporation. The value of the stock at the time of payment was $25 per share. Issued 20,000 shares of common stock in exchange for land, buildings and equipment with fair market prices of $65,000, $120,000, and $45,000 respectively Issued 2 000 shares of preferred stock at $56 for cash Feb 24 Mar. 15 Required: Journalize the transactions. Refer to the Chart of Accounts for exact wording of account titles. General Journal