Prepare entries for these transactions, assuming that the common stock has a par value AJ the journal (b) Prepare the journal entries for these transactions, assuming that the common stock is no-par with a stated value of $3 per share. E15-2 (L01 ary 1, 2017. stock with a stated value of $1 per share. The following stock transactions were completed during the first year 1) (Recording the Issuance of Common and Preferred Stock) Kathleen Battle Corporation was organized on lanun It is authorized to issue 10,000 shares of 8%, $100 par value preferred stock, and 500,000 shares of no par co Jan. Mar. Apr May Aug. 10 1 Issued 80,000 shares of common stock for cash at $5 per share. Issued 5,000 shares of preferred stock for cash at $108 per share. Issued 24,000 shares of common stock for land. The asking price of the land was $90,000; the fair value of the land was 55u 1 1 Issued 80,000 shares of common stock for cash at $7 per share. Issued 10,000 shares of common stock to attorneys in payment of their bill f $50,000 for services rendered in helping the company organize Sept. Nov. 1 1 Issued 10,000 shares of common stock for cash at $9 per share. Issued 1,000 shares of preferred stock for cash at $112 per share. Instructions Prepare the journal entries to record the above transactions. E15-3 (L01,2) (Stock Issued for Twenty-five thousand shares reacquired by Elixir Corporation for $53 per share were t the time of the exchange, the common stock was Land) ora sod value of SI 700 000. A