View Policies Show Attempt History Current Attempt in Progress Cheyenne Corp was organized on January 1, 2022. It is authorized to issue 11.000 shares of 86, 5100 par value preferred stock, and 520,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year Jan 10 Mar 1 Apr 1 Issued 75,500 shares of common stock for cash at $6 per share. Issued 5.500 shares of preferred stock for cash at $110 per share Issued 22.500 shares of common stock for land. The asking price of the land was $85.500. The fair value of the tand was $80,000 Issued 81.500 shares of common stock for cash at $425 per share Issued 11,500 shares of common stock to attorneys in payment of their bill of $39,500 for services performed in helping the company organize Issued 12.000 shares of common stock for cash at $6 per share May 1 Aug 1 Sept 1 Now 1 Issued 2.000 shares of preferred stock for cash at $110 per share ) 7/21 IT Post to the stockholders equity account (Post entries in the arder of journal entries presented in the previous part Preferred Stock Pald-in Capital in Excess of Par-Preferred Stock Common Stock Question 2 of 3