$.$ Presented below is information related to Wyrick Company:

$1.$ The company is granted a charter that authorizes the issuance of $15,000$

shares of $$100$ par value preferred stock and $40,000$ shares of no$-$par

common stock.

$2.12,000$ shares of common stock are issued to the founders of the corporation

for land valued by the board of directors at $$400,000.$ The board establishes

a stated value of $$10$ a share for the common stock.

$3.6,000$ shares of preferred stock are sold for cash at $$110$ per share.

$4.$ The company issues $200$ shares of common stock to its attorneys for costs

associated with starting the company. At that time, the common stock was

selling at $$60$ per share.

Instructions

Prepare the general journal entries necessary to record these transactions.