June 22 Luney's company began operations with an authorization of $325,000 shares of $6.50 preferred stock, $10 par. $27,000,000 shares of $4.75 par common stock. During the year, equity transactions were:

August 1: Issued 66,000 shares of common stock in exchange for a building with fair market price of $3,000,000.

September 15 Issued 200,000 shares of preferred stock at $72 for cash.

Enter amounts in whole numbers, no currency symbol, no decimals, example 20,000

For August 1:

a. Credit for Paid in Capital in excess of Par - Common stock (APIC) account

b. Credit for the Common Stock account

For September 15:

a. Credit for the Preferred Stock account

b. Credit for Paid in Capital in Excess of Par-Preferred Stock (APIC)

c. Debit for Cash