On May 23, Stoltz Realty Inc. issued for cash 80,000 shares of no-par common stock(with a stated value of $3) at $12. On July 6, Stoltz Realty Inc. issued at par value 18,000 shares of preferred 1% stock, $50 parfor cash. On September 15, Stoltz Realty Inc. issued for cash an additional 50,000 shares of no-par common stock (with a stated value of $3) for $15.

Journalize the entries to record the May 23, July 6, and September 15 transactions. Refer to the Chart of Accounts for exact wording of account titles.

CHART OF ACCOUNTS

Stoltz Realty Inc.

General Ledger

ASSETS

110 Cash

120 Accounts Receivable

131 Notes Receivable

132 Interest Receivable

141 Merchandise Inventory

145 Office Supplies

151 Prepaid Insurance

181 Land

193 Equipment

194 Accumulated Depreciation-Equipment

LIABILITIES

210 Accounts Payable

221 Notes Payable

226 Interest Payable

231 Cash Dividends Payable

236 Stock Dividends Distributable

241 Salaries Payable

261 Mortgage Note Payable

EQUITY

311 Common Stock

313 Paid-In Capital in Excess of Stated Value-Common Stock

315 Treasury Stock321Preferred Stock

322 Paid-In Capital in Excess of Par-Preferred Stock

340 Retained Earnings

351 Cash Dividends

352 Stock Dividends

390 Income Summary

REVENUE

410 Sales

610 Interest Revenue

EXPENSES

510 Cost of Merchandise Sold

515 Credit Card Expense

520 Salaries Expense

531 Advertising Expense

532 Delivery Expense

533 Selling Expenses

534 Rent Expense

535 Insurance Expense

536 Office Supplies Expense

537 Organizational Expenses

562 Depreciation Expense-Equipment

590 Miscellaneous Expense

710 Interest Expense