Whispering Winds Carp. was organized on January $1,2022.$ It is authorized to issue $14,000$ shares of $8\%,$$$100$ par value preferred

stock, and $497,000$ 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. $10$ Issued $79,500$ shares of comman stack for cash at $$6$ per share.

Mar. $1$ Issued $5,200$ shares of preferred stock for cash at $$110$ per share.

Apr. $1$ Issued $24,000$ shares of common stock for land. The asking price of the land was $$94,500.$ The fair value of the land

was $$83,500$

May $1$ Issued $79,500$ shares of common stack for cash at $$4\mathrm{.}50$ per share.

Aug. $1$ Issued $10,000$ shares of common stack to attorneys in payment of their bill of $$42,500$ for services performed in

helping the company organize.

Sept. $1$ Issued $10,000$ shares of common stock for cash at $$7$ per share.

Nov. $1$ Issued $1,000$ shares of preferred stock for cash at $$109$ per share.

$($a$).$

$($b$)$

Your answer is incorrect.

Post to the stockholders' equity accounts. $($Post entries in the order of journal entries presented in the previous port.$)$