Megaton Corp., an electric guitar retailer, was organized by Bonita Eaves, Helen Brock, and Freida Sager. The charter authorized 400,000 shares of common stock with a par of $10. The following transactions affecting stockholders’ equity were completed during the first year of operations:

a. Issued 5,000 shares of stock at par to Brock for cash.

b. Issued 200 shares of stock at par to Eaves for promotional services provided in connection with the organization of the corporation, and issued 1,200 shares of stock at par to Eaves for cash.

c. Purchased land and a building from Sager. The building is mortgaged for $180,000 for 20 years at 6%, and there is accrued interest of $900 on the mortgage note at the time of the purchase. It is agreed that the land is to be priced at $60,000 and the building at $200,000, and that Sagar’s equity will be exchanged for stock at par. The corporation agreed to assume responsibility for paying the mortgage note and the accrued interest.

Journalize the entries to record the transactions.