Whispering Corporation was organized on January 1, 2017. It is authorized to issue 10,300 shares of 8%, $100 par value preferred stock, and 518,000 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 5,370 shares of preferred stock for cash at $111 per share.

Apr. 1 Issued 24,840 shares of common stock for land. The asking price of the land was $90,490; the fair value of the land was $80,740.

May 1 Issued 80,740 shares of common stock for cash at $8 per share.

Aug. 1 Issued 10,300 shares of common stock to attorneys in payment of their bill of $48,700 for services rendered in helping the company organize.

Sept. 1 Issued 10,300 shares of common stock for cash at $10 per share.

Nov. 1 Issued 1,090 shares of preferred stock for cash at $109 per share.

Prepare the journal entries to record the above transactions.