Preferred stock, $100 par value; authorized, 450,000 shares; issued, 45,000 shares		$4,500,000
Common stock, $5 par value; authorized, 3,000,000 shares; issued, 600,000 shares		3,000,000
Paid-in capital in excess of parpreferred		135,000
Paid-in capital in excess of parcommon		1,275,000
Retained earnings		2,100,000
		$11,010,000

The following events occurred during 2013:
Jan. 5	30,000 shares of authorized and unissued common stock were sold for $8 per share.
Jan. 16	30,000 shares of authorized and unissued preferred stock were sold for $109 per share.
April 1	80,000 shares of common stock were repurchased for the treasury at a price of $16 per share. Superior uses the cost method to account for treasury stock.
Sept. 1	6,000 shares of preferred stock are issued in exchange for a piece of land. The land has an appraised value of $661,000. The preferred stock currently trades on the New York Stock exchange at a price of $109 per share.
Dec. 1	15,000 shares of treasury stock are reissued at a price of $21 per share Prepare journal entries for each of the above transactions