Santiago Co. had the following transactions during the current period:

Mar. 2 Issued 5,000 shares of \(\$ 1\) par value common stock to attorneys in payment of a bill for \(\$ 27,000\) for services rendered in helping the company to incorporate.

June 12 Issued 60,000 shares of \(\$ 1\) par value common stock for cash of \(\$ 375,000\).

July 11 Issued 1,000 shares of \(\$ 100\) par value preferred stock for cash at \(\$ 105\) per share.

Nov. 28 Purchased 2,000 shares of treasury stock for \(\$ 80,000\).

\section*{Instructions}

Journalize the transactions.