PROBLEM 11 Stonehurst Corporation was authorized to issue 100,000 shares of $5 par value common stock and 12,000 shares of S 100 par value, non-cumulative, 6% preferred stock on July 15, 2007. Stock-related transactions for the corporation were as follows: July 15 Issued 7,000 shares of common stock at $9 per share in connection with the organization of the corporation. Issued 20,000 shares of common stock at $10 per share Issued 6,000 shares of preferred stock at par value for cash. 17 25 ed 9,000 shares of common stock in exchange for a Building valued at S100,000. The market price per share of common stock is known to be $13. Aug 1 Issued 8,000 shares of common stock for S50,000 in cash Purchased 3,000 shares of common stock for the treasury at $13 per share. 3 12 Declared dividends for one month on the outstanding preferred stock, and $0.05 per share on common stock , payable on August 20 to stockholders of record on August 15. Required: Prepare entries in journal form without explanations to record ALL the transactions