R. Rod fo ned a corporation with an authorization 0120,000 shares of $50 par, 6% noncumulative preferred stock and 100,000 shares of $10 par common stock. The following sclected transactions were completed during the first year of operations. Journalize the transactions omitting 2.0 explanations 1ssued 20,000 shares of common stock at par for cash. Issued 20,000 shares of common stock in exchange for land, buildings, and Jan 10 31 Equipment with fair mariket prices of $$2,000, $125,000, and $48,000, respectively Issued 2,000 shares of preferred stock at $54 for cash. Feb 24