Problem 11-1A DeLong Corporation was organized on January 1, 2017. It is authorized value of $3 per share. The following stock transactions were completed during the first year issue 15,000 shares of 8%, $100 par value preferred stock, and 549,000 shares of no-par common stock with stated Jan. 10 Issued 75,500 shares of common stock for cash at $6 per share ar 1 Teeued 24 500 shares of.common stock for land. The asking price of the land was $93.000., The fair value of the land was $83,000 Anr May 1 Issued 80,000 shares of common stock for cash at $4.25 per share. Aug. 1 Issued 10,000 shares of common stock to attorneys in payment of their bill of $45,000 for services performed in helping the company organize. a esi common stoCk Tor Cas a 7 per share Ma 2,500 shares of preferred Issu are Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. no entry is required, select "No Entry" the account titles and enter 0 for the amounts.) Debit Credit Date Account Titles and Explanation Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock Explanation Ref. Date Debit Credit Balance J5 15 Common Stock Balance Date Explanation Ref. Debit Credit J5 15 15 15 15 Paid-in Capltal in Excess of Par-Preferred Stock Explanation Ref. Date Debit Credit Balance J5 J5 Paid-in Capital in Excess of Stated Value-Common Stock Debit Credit Date Explanation Ref. Balance 5 15 15 15 15 Prepare the paid-in capital section of stockholders' equity December 31, 2017. (Enter the account name only and do not provide the descriptive information provided in the question.) DELONG CORPORATION Balance Sheet (Partlal) SHOW LIST OF ACCOUNTSS LINK TO TE LINK TO TEXT VIDEO: SIMILAR