Need help with the following problem.

The partners who own Bassett Furniture Co. wished to avoid the unlimited personal liability
of the partnership form of business, so they incorporated as BFC Inc.
The charter from the state of Florida authorizes the corporation to issue 10,000 shares
of $6 no-par preferred stock and 250,000 shares of $5 par common stock. In its first month,
BFC completed the following transactions:



Jan. 3 Issued 1,000 shares of common stock to the promoter for
assistance with issuance of the common stock. The promotional
fee was $10,000. Debit Organization Expense.
6 Issued 5,000 shares of common stock to Jo Bassett and 3,800
shares to Mel Bassett in return for cash equal to the stock’s market
value of $11 per share. The Bassetts were partners in Bassett
Furniture Co.

12 Issued 1,000 shares of preferred stock to acquire a patent with a
market value of $110,000.
22 Issued 1,500 shares of common stock for $12 cash per share.