PRINTER VERSION 4 BACK NEXT Question 11 Concord Corporation was organized on January 1, 2020. It is authorized to issue 14,000 shares of 8%, $100 par value preferred stock, and $3,000 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 $ per share. Nov. 1 Issued 2,000 shares of preferred stock for cash at $109 per share. Journalize the transactions. (Record journal antries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually Date Account Titles and Explanation Debit Credet 23 Post to the stockholders' equity accounts. (Post entries in the order of journal entries presented in the previous part.) Preferred Stock . . . on 10 on 11 on 12 on on14 on 15 + . Common Stock 1 + Score Results by Study . . 0 SURCES CALCULATOR FULL SCREEN PRINTER VERSION + Prepare the paid in capital section of stockholders' equity at December 31, 2020. (Enter the account name only and do not provide the descriptive Information provided in the CONCORD CORPORATION Balance Sheet(Partial) . . $ 3