1. Western Inc. had 2,000 no-par common shares and 300 $10 par preferred shares outstanding on January 1. On January 15, Western issued 400 new common shares for $8 cash per share. On January 30, Western issued 50 new preferred shares for $25 cash per share. Journalize Western's transactions on January 15 and 30. How many common and preferred shares does Western have outstanding at January 31