Discuss the below:
Q: STOCK SUBSCRIPTIONS Juneau & Associates had the following stock transactions during the year:
(a) Issued 100,000 shares of $1 par common stock for $105,000 cash.
(b) Issued 12,000 shares of $10 par, 8% preferred stock for $128,000 cash.
(c) Received subscriptions for 10,000 shares of $10 par common stock for $105,000.
(d) Received subscriptions for 5,000 shares of $15 par, 8% preferred stock for $80,000.
(e) Received a payment of $55,000 on the common stock subscription.
(f) Received a payment of $40,000 on the preferred stock subscription.
(g) Issued 40,000 shares of $1 par common stock in exchange for a truck with a fair market value of $48,000.
(h) Received the balance in full for the common stock subscription and issued the stock.
(i) Issued 2,500 shares of no-par common stock with a stated value of $8 per share for $21,500 cash.
(j) Received the balance in full for the preferred stock subscription and issued the stock.
Prepare general journal entries to record the transactions, identifying each transaction by letter.