You are the controller at Star Wars, Inc. you must Create Journal Entries for the following transactions:

1. On Dec 14, Star Wars, Inc. gives R2D2 Computers an allowance for 50 units from the Dec13 sale for decrease in sales of $41000 (820 each).

2. On Dec21, an uninhabited moon orbiting the planet of Star Wars, Inc.'s headquaters is acquired by issuing 20,000 shares of unissued common stock. The moon has a fair value of $1,200,000. The moon is immediately used for operations. The moon is considered land.

3. On Dec 21, Star Wars, Inc. Received a bill from Han Solo, Esquire is received for legal services performed related to the acquisition of the moon . The total of the bill is $7,000 and is paid immediately.

4.On Dec 26, R2D2 Computers agrees to conver a $50,900 overdue A/R balance into a 13% note due in 6 months. The original sale was from a Nov. 15 sale. Previously, R2D2 paid $45,000 of the balance off.

5. On Dec 27, Star Wars, Inc. repurchases 1,000 shares of its own stock from an investor for $45 per share. The repurchase is recorded as treasury stock at its repurchase cost.