On May 23, Stoltz Realty Inc. issued for cash 81,000 shares of no-par common stock (with a stated value of $5) at $7. On July 6, Stoltz Realty Inc. issued at par value 44,000 shares of preferred 1% stock, $10 par for cash. On September 15, Stoltz Realty Inc. issued for cash 20,000 shares of preferred 1% stock, $10 par at $12.

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 journal has 8 lines

f Accounts General Ledger ASSETS REVENUE 110 Cash 410 Sales 120 Accounts Receivable 610 Interest Revenue 131 Notes Receivable 132 Interest Receivable EXPENSES 141 Merchandise Inventory 510 Cost of Merchandise Sold 145 Office Supplies 515 Credit Card Expense 151 Prepaid Insurance 520 Salaries Expense 181 Land 531 Advertising Expense 193 Equipment 532 Delivery. Expense of Accounts 194 Accumulated Depreciation-Equipment 533 Selling Expenses 534 Rent Expense LIABILITIES 535 Insurance Expense 210 Accounts Payable 536 Office Supplies Expense 221 Notes Payable 537 Organizational Expenses 226 Interest Payable 562 Depreciation Expense-Equipment 231 Cash Dividends Payable 590 Miscellaneous Expense 236 Stock Dividends Distributable 710 Interest Expense 241 Salaries Pegable 261 Mortgage Note Payable FUNGI Instructions Chart of Accounts EQUITY 311 Common Stock 313 Paid-in Capital in Excess of Stated Value-Common Stock 315 Treasury Stock 321 Preferred Stock 322 Paid-in Capital in Excess of Par-Preferred Stock 331 Paid-in Capital in Excess of Par-Common Stock 340 Retained Earnings 352 Stock Dividends 390 Income Summary