prepare journal entries for the following transactions :

Opening Data: C/S $2.00 par, 0 shares outstanding P/S $100 par, 4%, cumulative. O shares outstanding Jan. 1, 1998 Issued a $3,000,000 bond @ 97.0, a 10-year bond, paying 3% interest; the market interest rate today is 5%. Interest is be paid twice per year on June 30 & Dec. 31 every year. Jan. 2. Issued 60,000 shares of Common Stock to purchase land worth $375,000 Jan. 3. Issued 2,000 shares of Preferred Stock for a building worth $202,500. Jan. 4. Incurred $33,000 of Salary Expense instead of paying employees cash we issued 300 shares of Preferred Stock to our employees