Pina Corporation was organized on January 1, 2017. It is authorized to issue 10,900 shares of 8%, $100 par value preferred stock, and 507,800 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 80,990 shares of common stock for cash at $7 per share. Mar. 1 Issued 5,280 shares of preferred stock for cash at $110 per share. Apr. 1 Issued 24,410 shares of common stock for land. The asking price of the land was $90,500; the fair value of the land was $80,990. May 1 Issued 80,990 shares of common stock for cash at $9 per share. Aug. 1 Issued 10,900 shares of common stock to attorneys in payment of their bill of $53,200 for services rendered in helping the company organize. Sept. 1 Issued 10,900 shares of common stock for cash at $11 per share. Nov. 1 Issued 1,090 shares of preferred stock for cash at $114 per share.

Prepare the journal entries to record the above transactions