Lodi Company is authorized to issue $100,000$ shares of no$-$par, $$6$ stated$-$value common stock and $10,000$ shares of $9\%,$ $$100$ par preferred stock. It enters into the following transactions on December $31$:

$1.$ Accepts a subscription contract to $7,000$ shares of common stock at $$42$ per share and receives a $30\%$ down payment.

$2.$ Collects the remaining balance of the subscription contract and issues the common stock.

$3.$ Acquires a building by paying $$2,000$ cash and issuing $3,000$ shares of common stock and $900$ shares of preferred stock. Common stock is currently selling at $$45$ per share; preferred stock has no current market value. The building is appraised at $$2,395,000.$

$4.$ Sells $1,000$ shares of common stock at $$47$ per share.

$5.$ Sells $900$ shares of preferred stock at $$115$ per share.

$6.$ Declares a three$-$for$-$one stock split on the common stock, reducing the stated value to $$2\mathrm{.}00$ per share.

Required:

Prepare the journal entries to record the preceding transactions.