1.corporation issued 4000shares of its $5 par value common stock to a variety of investors for a total of $36000

2.corporation also issued 2000shares of its $5 par value common stock in exchange for legal services relating to the formation of the corporation; value of these services was set at $19500

3.issued 8000 shares of its $100 par value 8% preferred stock for $64000

4. corporation issued 1000shares of its $5 par value common stock in exchange for land that was valued at $10250. the board of directors agreed that this was a fair price to pay for the land

5. the board fo dirctors declared and paid dividends of $8 per share to preferred stockholders to be paid one month in the future

6. corporation paid the dividend declared in #5 above.

7.upon closing the revenue and expense accounts to the income summary, it is determined that the company had net earnings of $337,987. close the income summary account and the dividends account

I have to make journal entries. debit and credit..... I need help do these for me..

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