The following is the Paid-In Capital section of stockholders? equity for the Royce Corporation on June 1, 201X:

Preferred Stock, $104 par, authorized 24,000 shares, 4,000 shares issued	$ 416,000
Paid-In Capital in Excess of Par Value-preferred Stock	115,000
Common Stock, $23 par, authorized 50,000 shares, 21,000 shares issued	483,000
Paid-In Capital in Excess of Par Value-Common Stock	170,000
Total Paid-In Capital	$1,184,000

The following transactions occurred in the months of June and July:

1. Journalize the entries and update the stockholders? equity ledger.

2. Prepare a new Paid-In Capital section of stockholders? equity as of July 31, 201X.

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201X 1 Isued 2,700 shares of preferred stock at $108 per share. 2 Issued 7,100 shares of common stock at $34 per share. June 15 Issued 7,800 shares of common stock at $48 per share. July 2 Issued 5,400 shares of preferred stock at $110 per share. 18 Issued 2,300 shares of common stock in exchange for building and land with fair market value of $65,000 and $49,000, respectively.