Reference no: EM132481381

Concord Corporation was organized on January 1, 2020. It is authorized to issue 14,000 shares of 8%, $100 par value preferred stock, and 511,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year.

Point 1: Jan.10 Issued 82,000 shares of common stock for cash at $6 per share.

Point 2: Mar.1 Issued 4,850 shares of preferred stock for cash at $105 per share.

Point 3: Apr.1 Issued 25,000 shares of common stock for land. The asking price of the land was $93,000. The fair value of the land was $82,000.

Point 4: May1 Issued 76,500 shares of common stock for cash at $4.50 per share.

Point 5: Aug.1 Issued 11,000 shares of common stock to attorneys in payment of their bill of $41,500 for services performed in helping the company organize.

Point 6: Sept.1 Issued 12,000 shares of common stock for cash at $7 per share.

Point 7: Nov.1 Issued 2,500 shares of preferred stock for cash at $112 per share.

Question 1: Create Journalize the transactions.