Monty Corp. was organized on January 1, 2017. It is authorized to issue 23,500 shares of 6%, $53 par value preferred stock and 459,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.

Jan.	10		Issued 69,500 shares of common stock for cash at $4 per share.
Mar.	1		Issued 1,190 shares of preferred stock for cash at $54 per share.
May	1		Issued 114,500 shares of common stock for cash at $7 per share.
Sept.	1		Issued 4,900 shares of common stock for cash at $9 per share.
Nov.	1		Issued 2,900 shares of preferred stock for cash at $54 per share.

Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Post to the stockholders equity accounts. (Post entries in the order of journal entries posted in the previous part.)

Prepare the paid-in capital portion of the stockholders equity section at December 31, 2017.