Selected stack transactions Apha Sounds Corpy an electric guitar retailer, was organized by Michele Kirby, Poul Glenn, and Gretchen Northway, The charter authorized 200,000 shares of common. stock with a par of $1. The following transactions affecting stockholders' equity were completed during the first year of operations. Journalize the entries to record the transactions. If an amount box does not require an entry, leave it blank. a. Issued 10,000 shares of stock at par to Paul Gienn for cash. Ferthas Tchiliw work What is the company recelving in exchange for issuing the shares? At what, price are the shares being sold? b. (1) Issued 500 shares of stock at par to Michele Kurby for promotional services provided in connection with the organization of the corporation, and (2) issued 21,000 shares of stock at par to Michele Kirty for cash. c. Purchased land and a building from Gretchen Northway in exchange for stock issued at par. The land has a fair value of $70,000, and the building has a fair value of $130,000