Teal Corporation was organized on January 1, 2017. It is authorized to issue 9,400 shares of 8%, $100 par value preferred stock, and 537,000 shares of no-par common stock with a stated value of $1 per share. The following stock transactions were completed during the first year.

Jan. 10		Issued 80,740 shares of common stock for cash at $6 per share.
Mar. 1		Issued 5,980 shares of preferred stock for cash at $109 per share.
Apr. 1		Issued 24,200 shares of common stock for land. The asking price of the land was $90,970; the fair value of the land was $80,740.
May 1		Issued 80,740 shares of common stock for cash at $9 per share.
Aug. 1		Issued 9,400 shares of common stock to attorneys in payment of their bill of $48,600 for services rendered in helping the company organize.
Sept. 1		Issued 9,400 shares of common stock for cash at $11 per share.
Nov. 1		Issued 1,080 shares of preferred stock for cash at $118 per share.

Prepare the journal entries to record the above transactions.