Prepare the journal entries for the following transactions

January 1, 2020: Lugo Company issues 2,000 shares of common stock for $8 per share. The common stock has a par value of $2 per share.

July 1, 2020: Lugo Company issues 5,000 shares of common stock for land worth $50,000. The common stock has a par value of $2 per share.

December 1, 2020: Lugo Company buys back 500 of its own shares for a total of $4,500.

February 3, 2021: Lugo Company sells 300 of its treasury shares for $11 per share.