Journalize stock transactions, post, and prepare paid-in capital section. (LO 2,4) DeLong Corporation was organized on January 1 20 19 It is authorized to issue 10,000 shares of 8% sio 0 par value preferred stock, and 500,000 shares of no par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year. Jan 10 Issued 80,000 shares of common stock for cash at $4 per share. Mar. Issued 5,000 shares of preferred stock for cash at $105 per share Apr. Issued 24,000 shares of common stock for land. The asking price of the land was $90,000. The fair value of the land was $85,000. May Issued 80,000 shares of common stock for cash at S4.50 per share. Aug.1 Sept. Issued 10,000 shares of common stock for cash at S5 per share Nov. Issued 1,000 shares of preferred stock for cash at $109 per share. Instructions Issued 10,000 shares of common stock to attorneys in payment of their bill of S30,000 for services performed in helping the company organize (a) Journalize the transactions. (b) Post to the stockholders' equity accounts. (Use T-accounts.) (c) Prepare the paid-in capital section of stockholders' equity at December 31, 2019 Total paid-in capital $1,479,000