w Policies Current Attempt in Progress Ayayai Corporation was organized on January 1, 2020. It is authorized to issue 10,800 shares of 8%, $100 par value preferred stoc and 506,500 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 Mar. 1 Apr 1 issued 80,520 shares of common stock for cast I $6 per share. Issued 5,500 shares of preferred stock for cash at $109 per share. Issued 24.310 shares of common stock for land. The asking price of the land was $91,620; the fair value of the land was $80,520 May 1 Aug 1 Sept. 1 Now 1 Issued 80,520 shares of common stock for cash at $8 per share. Issued 10,800 shares of common stock to attorneys in payment of their bill of $52.900 for services rendered in helping the company organize issued 20,800 shares of common stock for cash at $10 per share. Issued 900 shares of preferred stock for cash at $123 per share Prepare the journal entries to record the above transactions. (Credit account titles are automatically Indented when amount is entered. Do notIndent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts) Date Account Titles and Explanation Debit Credit WERPC -/10 E Question 11 of 11 1 Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when amount is entered Do not indent many entry is required, select "No Entry for the account titlerondenter for the amounts) Date Account Titles and explanation Debit Credit