Pearl Corporation was organized on January 1, 2020. It is authorized to issue 10,800 shares of 8%, $100 par value preferred stock, and 539,000 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 80,700 shares of common stock for cash at $6 per share.

Mar. 1 Issued 5,500 shares of preferred stock for cash at $108 per share.

Apr. 1 Issued 24,510 shares of common stock for land. The asking price of the land was $91,450; the fair value of the land was $80,700.

May 1 Issued 80,700 shares of common stock for cash at $9 per share.

Aug. 1 Issued 10,800 shares of common stock to attorneys in payment of their bill of $50,800 for services rendered in helping the company organize.

Sept. 1 Issued 10,800 shares of common stock for cash at $11 per share.

Nov. 1 Issued 900 shares of preferred stock for cash at $117 per share.

Prepare the journal entries to record the above transactions.