Willow Creek Nursery, with an authorization of $30,000$ shares of preferred stock and $290,000$ shares of common stock, completed several transactions involving its stock

on October $1,$ the first day of operations. The trial balance at the close of the day follows:

All shares within each class of stock were sold at the same price. The preferred stock was issued in exchange for the land and buildings.

Journalize the entries to record the $(1)$ common and $(2)$ preferred stock transactions summarized in the trial balance.

If an amount box does not require an entry, leave it blank.