Sandhill Corporation was organized on January 1, 2017. It is authorized to issue10,300shares of 8%, $100par value preferred stock, and549,000shares of no-par common stock with a stated value of $1per share. The following stock transactions were completed during the first year.

Jan. 10Issued80,950shares of common stock for cash at $6per share.Mar. 1Issued5,070shares of preferred stock for cash at $113per share.Apr. 1Issued24,390shares of common stock for land. The asking price of the land was $91,900; the fair value of the land was $80,950.May 1Issued80,950shares of common stock for cash at $8per share.Aug. 1Issued10,300shares of common stock to attorneys in payment of their bill of $50,900for services rendered in helping the company organize.Sept. 1Issued10,300shares of common stock for cash at $10per share.Nov. 1Issued960shares of preferred stock for cash at $117per share.

Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)

Date

Account Titles and Explanation

Debit

Credit

Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1

Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1

Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1

Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1

Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1

Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1

Jan. 10Mar. 1Apr. 1May 1Aug. 1Sept. 1Nov. 1