Willow Creek Nursery, with an authorization of 72,000 shares of preferred stock and 210,000 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: Willow Creek Nursery UNADJUSTED TRIAL BALANCE October 1, 20 ACCOUNT TITLE 1 Cash 2 Land Buildings Preferred 1% Stock, $80 par Paid-In Capital in Excess of Par-Preferred Stock Common Stock, $50 par Paid-In Capital in Excess of Par-Common Stock Totals DEBIT CREDIT 3,347,500.00 I $60,000.00 2,077,000.00 2,640,000.00 297,000.00 3,090,000.00 257,500.00 6284,500.00 6284,500.00