Boys Sleopwear i Old N Question 12 Pharoah Company was organized on January 1, 2019. It is authorized to issue 14000 shares of 8% S 100 par value preferred stock and 538,000 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 Mar. 1 Apr. 1 May 1 Issued 75,000 shares of common stock for cash at $ 4 per share. Issued 5,050 shares of preferred stock for cash at $ 110 per share Issued 24,000 shares of common stock for land. The asking price of theland was $ 92,000.The fair value of the land was $ 87,500 Issued 83,500 shares of common stock for cash at $ 4.50 per share. 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 $ 7 per share Nov. 1 Issued 2,000 shares of preferred stock for cash at $ 109 per share. Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically i when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter O for the amounts.) Debit Credit Date Account Titles and Explanation