A) Journalize the Transaction (Please explain/write the math formula ex: 4x75,000=600000 and clear on the title) B) Post to the stockholders' equity accounts C) Prepare the paid-capital secton of stockeholders' Equity at December 31, 2017.

DeLong Corporation was organized on January 1, 2017. It is authorized to issue 14,000 shares of 8%, $100 par value preferred stock, and 538,000 shares of no-par common stock with a stated value of $2 per share. The following stock transactions were completed during the first year.

Jan.	10		Issued 75,000 shares of common stock for cash at $4 per share.
Mar.	1		Issued 5,050 shares of preferred stock for cash at $110 per share.
Apr.	1		Issued 24,000 shares of common stock for land. The asking price of the land was $92,000. The fair value of the land was $87,500.
May	1		Issued 83,500 shares of common stock for cash at $4.50 per share.
Aug.	1		Issued 10,000 shares of common stock to attorneys in payment of their bill of $38,000 for services performed in helping the company organize.
Sept.	1		Issued 11,000 shares of common stock for cash at $7 per share.
Nov.	1		Issued 2,000 shares of preferred stock for cash at $109 per share.