Presented Below Is Information Related to Wyrick Company:"1

Essay

Presented below is information related to Wyrick Company:"1. The company is granted a charter that authorizes issuance of 15,000 shares of $100 par value preferred stock and 40,000 shares of no-par common stock.2. 9,000 shares of common stock are issued to the founders of the corporation for land valued by the board of directors at $300,000. The board establishes a stated value of $10 a share for the common stock.3. 6,000 shares of preferred stock are sold for cash at $110 per share.""4. The company issues 150 shares of common stock to its attorneys for costs associated with starting the company. At that time, the common stock was selling at $60 per share.
InstructionsPrepare the general journal entries necessary to record these transactions."