Answer:
A) Journal record for issuing 100,000 shares at par value to Paul Glenn
Dr Cash account 100,000
Cr Common Stock account 100,000
B) Journal record for issuing 3,000 shares at par value to Michele Kirby in exchange for promotional services
Dr Promotional Expenses account 3,000
Cr Common Stock account 3,000
Journal record for issuing 45,000 shares at par value to Michele Kirby
Dr Cash account 45,000
Cr Common Stock account 45,000
C) Journal record for land purchase in exchange for stock and mortgage loan + interests accrued
Dr Land account 60,000
Dr Building account 225,000
Cr Mortgage Loan account 180,000
Cr Interest Payable account 5,00
Cr Common Stock account 99,800
