PRINTER VERSION 4 BACK NEXTI Problem 13-1A (Part Level Submission) DeLong Corporation was organized on January 1, 2017. It is authorized to issue 12,000 shares of 8%, $100 par value preferred stock, and 513,000 shares of no-par common stock with a stated value of $3 per share. The following stock transactions were completed during the first year. Jan. 10 Issued 77,000 shares of common stock for cash at $6 per share. Mar. 1 Issued 4,300 shares of preferred stock for cash at $105 per share. Apr. 1 Issued 25,000 shares of common stock for land. The asking price of the land was $93,000. The fair value of the land was $84,500. May 1 Issued 76,000 shares of common stock for cash at $4.50 per share. Aug. 1 Issued 12,000 shares of common stock to attorneys in payment of their bill of $36,000 for services performed in helping the company organize. Sept. 1 Issued 10,500 shares of common stock for cash at $7 per share. Nov. 1 Issued 1,000 shares of preferred stock for cash at $112 per share. (a) Your answer is partially correct. Try again. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account tities are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Jan. 10. Cash 462,000 Common Stock 231,000 8:36 PM PRINT VERO RESOURCES 462,000 123 Common Stock 231.000 Paid-in Capital in excess of Slated Valve Commor 231,000 sunken Cash 451,500 14. Part Preferred Stock 430,000 Paid-in Capital in Excess of Par-Preferred Stock 2.500 by Study Land 34,500 Common Stock 75,000 Paid-in Capital in Excess of Stated Vale-Commor 9,500 342.000 Common Stock 220,000 Paid in Capital in tows of State Value-Common 110.000 1 Organisationen 36.000 36 000 and Captain Excess of stated Ver 12.000 1 CA 73.500 Common Stock 31.500 Pad-in tessur Saud Valuu.com 42,000 les 1:2.000 Peter Stock 100,000 Paid in Cat E Pare Clock Type here to search 8:37 PM O Rie 2A 40 12