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Lodi Company is authorized to Issue 100,000 shares of no-par, 56 stated-value common stock and 10,000 shares of 9%, 5100 par preferred stock it enters into the following transactions on December 31 1 Accepts a subscription contract to 7,000 shares of common stock at S42 per share and receives a 30% down payment 2. Collects the remaining balance of the subscription contract and issues the common stock 3. Acquires a building by paying $4,000 cash and issuing 3.000 shares of common stock and 900 shares of preferred stock. common stock is currently selling at $46 per share, preferred stock has no current market value. The building is appraised at $2.270,000 4. Sells 1000 shares of common stock at 548 per share 5. Sells 900 shares of preferred stock at S110 per share 6. Declares a three-for-one stock split on the common stock, reducing the stated value to $2.00 per Prepare journal entries to record the transactions on December 31 General Journal Instructions PAGE 1PAGE 2 GENERAL JOURNAL DATEACCOUNT TITLEPOST. REF. DEBITCREDIT OWN Prepare journal entries to record the transactions on December 31 General Journal Instructions PAGE 1PAGE 2 GENERAL JOURNAL DATE ACCOUNT TITLEPOST. REF.DEBITCREDIT 6OO VOLAWN 11