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Question 12 Pharoah Company was organized on January 1 2019. I of no-par common stock with a stated value of $ 2 per share. The followi itis authorized to issue 1400 shares of 8%, $ 100 par value preferred stock, and 538,000 shares ng stock transactions were completed during the first year: Jan. 10 Mar. 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. 24,000 shares of common stock for land. The asking price of the land was $ 92,000. The fair value of the land was $ 87 500 May 1 Issued 83,500 shares of common stock for cash at $ 4.50 per share. Aug 1 Issued 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 indented 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

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