Problem 1. Karney Corporation is authorized to issue 100,000 shares of $2 stated value common stock and 20,000 shares of $100 par value, 10% preferred stock. The following transactions occurred during the month of January: Jan. 5 Issued 5,000 shares of common stock for cash at $10 per share. 12 Issued 2,000 shares of preferred stock for cash at $110 per share. 15 Issued 2,000 shares of common stock to an attomey for a bill of $9,000 in connection with the organization of the corporation. 18 Issued 10.000 shares of common stock in exchange for land for a plant site. The advertised price for the land is $110,000. The fair market value of the common stock is still $10 per share. INSTRUCTIONS: Record the transactions in general joumal format for the month of January