A Corporation Received Its Charter and Began Business This Year

A corporation received its charter and began business this year. The company is authorized to issue 50,000 shares of $100 par, 10%, noncumulative, nonparticipating preferred stock and 500,000 shares of no-par common stock. The following selected transactions occurred during this year:
$\begin{array}{|l|l|}\hline \text { Apr. } 5 & \text { Issued } 250 \text { shares of preferred stock for } \$ 104 \text { cash per share } \\\hline \text { June 15 } & \begin{array}{l}\text { Exchanged } 750 \text { shares of common stock for } \$ 15,000 \text { in legal services incurred in } \\\text { the organization of the company. }\end{array} \\\hline\end{array}$ Prepare journal entries to record these transactions.