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MEWORK WITH VIL 5/21 Question 2 of 3 View Policies Current Attempt in Progress Cheyenne Corp. was organized on January 1, 2022. It is authorized to issue 11,000 shares of 8%, $100 par value preferred stock, and 520,000 shares of no-bar common stock with a stated value of $3 per share. The following stock transactions were completed during the first year Jan 10 Issued 75,500 shares of common stock for cash at 56 pershare. Mar 1 Apr 1 May 1 Issued 5 500 shares of preferred stock for cash at $110 per sharo. sued 22,500 shares of common stock for land. The asking price of the land was $85,500. The fair value of the land was $80,000 Issued 81.500 shares of common stock for cash at $4 25 per shared Issued 11,500 shares of common stock to attorneys in payment of their bill of $39,500 for services performed in helping the company organizer Issued 12000 shares of common stock for cash at 56 per share. Issued 2000 shares of preferred stock for cashot 5110 per share Aug 1 Seot 1 Nov 1 estion 2 of 3 -/21 E a) Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts:) Date Account Titles and Explanation Debit Credit Question 2 of 3 -/21 Question 2 of 3 - 121 . e Textbook and Media List of Accounts Suve for Latur Attempts: 0 of 3 used Submit Answer (6) The parts of this question must be completed in order. This part will be available when you complete the part above. (c) The parts of this question must be completed in order. This part will be available when you complete the part above

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