Sage Corporation is authorized to issue 53,000 shares of $5 par value common stock. During 2020, Sage took part in the following selected transactions.

1.		Issued 5,500 shares of stock at $49 per share, less costs related to the issuance of the stock totaling $5,500.
2.		Issued 1,000 shares of stock for land appraised at $53,000. The stock was actively traded on a national stock exchange at approximately $50 per share on the date of issuance.
3.		Purchased 510 shares of treasury stock at $41 per share. The treasury shares purchased were issued in 2016 at $38 per share.

(a)		Prepare the journal entry to record item 1.
(b)		Prepare the journal entry to record item 2.
(c)		Prepare the journal entry to record item 3 using the cost method.