ng the Issuance of Common and Preferred Stock) Kathleen Battle Corporation was organized on Jan ary 8%, $100 par value preferred stock, and 500,000 shares of no par comm stock with a stated value of $1 per share. The following stock transactions were completed during the first year. 1, 2017. It is authorized to issue 10,000 shares of Jan. 10 Issued 80,000 shares of common stock for cash at $5 per share. Mar. 1 Issued 5,000 shares of preferred stock for cash at $108 per share. Apr. 1 Issued 24,000 shares of common stock for land. The asking price of the land was $90,000; the fair value of the land ws $800 May 1Issued 80,000 shares of common stock for cash at $7 per share. Aug. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill of $50,000 for services rendered in helping the company organize Issued 10,000 shares of common stock for cash at $9 per share Issued 1,000 shares of preferred stock for cash at $112 per share. Sept. Nov. 1 1 Instructions Prepare the journal entries to record the above transactions