Suppose that on November 12, Kahn Corporation issued 15,000 shares of its $1 par ordinary shares (common stocks) for equipment worth $4,000 and a building worth $120,000.

Suppose that Kahn Corporation engages an attorney to represent the company on a legal matter. On December 5, the attorney bills the corporation $25,000 for services and agrees to accept 2,500 shares of $1 par ordinary shares (common stocks) in settlement of the fee.

Journalize the above transactions