Prepare journal entries for the following transactions on the journal paper provided he shares of stock being issued in the transactions are the only outstanding shares in e that t existence for the sake of determining any stock dividends. I. Issued 20,000 shares of s5 par value common stock for $25 per share. Issued 20,000 shares of $5 par value common stock in exchange for land with fair market price of $250,000. 3. Issued 1,100 shares of $5 par value common stock at par to an attorney in payment of legal fees for organizing the corporation. uired 1,000 shares of $5 par common stock at $35 per share, paying cash. The stock was originally issued at $25 per share. 5. Sold 600 shares of common stock reacquired in transaction #4 at$39 per share, receiving cash. 6, Declared a 5% stock dividend on the cormmon stock outstanding when the fair market value of the is $40 7. Issued the certificates for the common stock dividend declared in transaction #6. 8. Declared a cash dividend on common stock in the amount of $25,000. 9. Paid the cash dividend declared in transaction #8. 10. Closed the Cash Dividends and Stock Dividends accounts