Journalize the following transactions related to stock issuances.
1. Issued 400 shares of 75$ par value of preferred stock in exchange for land that had an appraised value of 38,000.
2. Issued 17,500 shares of $10 par value common stock for $16 per share.
3. Purchased 3,800 shares of common stock for treasury at $17 per share.
4. Sold 2,100 shares of treasury stock purchased in transaction #3 for $18 per share.
5. Declared a cash dividend of 2.40 per share on the common stock outstanding, to be paid early next year.