Lindsey Hunter Corporation is authorized to issue 50,000 shares of $5 par value common stock. During 2025, Lindsey Hunter took part in the following selected transactions.

a. Issued 5,000 shares of stock at $45 per share, less costs related to the issuance of the stock totaling $7,000.

b. Issued 1,000 shares of stock for land appraised at $50,000. The stock was actively traded on a national stock exchange at approximately $46 per share on the date of issuance.

c. Purchased 500 shares of treasury stock at $43 per share. The treasury shares purchased were issued in 2021 at $40 per share.

d. Retired the treasury shares purchased in part (c).

Instructions

Prepare the journal entries to record these transactions using the cost method.