Stonehurst Corporation Is Authorized to Issue 100,000 Shares of $5 $\$ 7,000$

Stonehurst Corporation is authorized to issue 100,000 shares of $5 stated value common stock and 2,000 shares of $100 par value,6 percent preferred stock.Prepare entries in journal form without explanations to record the following transactions:
July 15 Issued 1,000 shares of common stock to an attorney for a bill of $\$ 7,000$ in connection with the organization of the corporation.
25 Issued 2,000 shares of preferred stock for cash of $\$ 120$ per share.
27 Issued 10,000 shares of common stock in exchange for land for a plant site valued at $\$ 75,000$ .

Aug. 1 Issued 5,000 shares of common stock for $\$ 35,000$ in cash.