Waterway Corporation is authorized to issue 53,000 shares of $10 par value ordinary shares. During 2022, Waterway took part in the following selected transactions. 1. Issued 5,300 shares at $48 per share, less costs related to the issuance of the shares totaling $4,900. 2. Issued 1,100 shares for land appraised at $53,000. The shares were actively traded on a national securities exchange at approximately $49 per share on the date of issuance. 3. Purchased 500 treasury shares at $45 per share. The treasury shares purchased were issued in 2021 at $41 per share. (a) Prepare the journal entry to record item 1. (b) Prepare the journal entry to record item 2. (c) Prepare the journal entry to record item 3 using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is reauired, select "No Entry" for the account titles and enter O for the amounts.)