Lindsey Hunter Corporation is authorised to issue 50,000 shares of $5 par value common stock. During 2014, Lindsey Hunter took part in the following transactions.

1. Issued 5,000 shares of stock at $45 per share, less cost related to thr issuance of the stock totaling $7000

2. Issued 1,000 shares of stock for land appraised ar $50,000. The stock was actively traded on a national stock exchange at approximately $46 per share on the dte of issuance

3Purchased 500 shares of treasury stock at $43 per share. The treasury shares purchased were issued in 2010 at $40 per-share.

Instructions

a' Prepare the journal entry to record item 1

b.Prepare the journal entry to record item 2

c. Prepare the journal entry to record item 3 using the cost method