Prytania Corporation is authorized to issue 1,000,000 shares ot $5 par value common stock. Duning 2017, its tirst year of operation, the company has the tollowing stock transactions Jan. 1 Paid the state $5,000 for incorporation fees Jan. 15 Issued 500,000 shares of stock at $6 per share Jan. 30 Attorneys for the company accepted 500 shares of common stock as payment for legal services rendered in helping the company incorporate. The legal services are estimated to have a value of $7,000 uly 2 Issued 100,000 shares of stock for land. The land had an asking price of $900,000. The stock is currently selling on a national exchange at $8 per share. Sept. 5 Purchased 15,000 shares of common stock for the treasury at $9 per share. Dec. 6 Sold 11,000 shares of the treasury stock at $i per share. Date Account Titles and Explanation Debit Credit