On January 5, 2020, Ayayai Corporation received a charter granting the right to issue 4,900 shares of $100 par value, 9% cumulative and nonparticipating preferred stock, and 50,200 shares of $10 par value common stock. It then completed these transactions. Jan. 11 Feb. 1 July 29 Aug. 10 Dec. 31 Dec. 31 Issued 20,400 shares of common stock at $15 per share. Issued to Sanchez Corp. 4,300 shares of preferred stock for the following assets: equipment with a fair value of $45,800; a factory building with a fair value of $175,000; and land with an appraised value of $260,000. Purchased 1,700 shares of common stock at $19 per share. (Use cost method.) Sold the 1,700 treasury shares at $14 per share. Declared a $0.30 per share cash dividend on the common stock and declared the preferred dividend. Closed the Income Summary account. There was a $192,300 net income. Record the journal entries for the transactions listed above. (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 O for the amounts. Record entries in the order displayed in the problem statement. Round answers to 0 decimal places, e.g. $5,275.) Date Account Titles and Explanation Debit Credit Jan. 11 Cash 306000 Common Stock 204000 Paid-in Capital in Excess of Par - Common Stock 102000 b. 1 Equipment 45800 Buildings 175000 Land 260000 Preferred Stock 430000 Paid-in Capital in Excess of Par - Preferred Stock 50800 July 29