Journalize stock transactions, post, and prepare paid-in capital section. P11.1 (LO2, 4), AP DeLong Corporation was organized on January 1, 2022. It is authorized to issue 10,000 shares of 8%, \$100 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. Issued 80,000 shares of common stock for cash at $4 per share. 10 Mar. Issued 5,000 shares of preferred stock for cash at \$105 per share. 1 Apr. Issued 24,000 shares of common stock for land. The asking price of the land was $90,000. The 1 fair value of the land was $85,000. May Issued 80,000 shares of common stock for cash at $4.50 per share. 1 Aug. Issued 10,000 shares of common stock to attorneys in payment of their bill of $30,000 for 1 services performed in helping the company organize. Sept. Issued 10,000 shares of common stock for cash at $5 per share. 1 Nov. Issued 1,000 shares of preferred stock for cash at $109 per share. 1 Instructions 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 31,2022. c. Total paid-in capital $1,479,000