Pina Colada Corp. was organized on January 1, 2019. It is authorized to issue 12,000 shares of 8%, $100 par value preferred stock, and 512,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year:

Journalize the transactions.

Jan.	10		Issued 79,000 shares of common stock for cash at $4 per share.
Mar.	1		Issued 5,850 shares of preferred stock for cash at $105 per share.
Apr.	1		Issued 23,000 shares of common stock for land. The asking price of the land was $87,500. The fair value of the land was $88,000.
May	1		Issued 81,000 shares of common stock for cash at $4.50 per share.
Aug.	1		Issued 12,000 shares of common stock to attorneys in payment of their bill of $36,000 for services performed in helping the company organize.
Sept.	1		Issued 12,000 shares of common stock for cash at $5 per share.
Nov.	1		Issued 2,000 shares of preferred stock for cash at $108 per share.