2. Your cooperative was authorized to issue 5 million common shares with a par value of Php. 10.00 and 2 million preferred shares with a par value of Php.10.00 with a stated dividend of 6%. There were 50% subscription on the common share and 60% on the preferred share. 40% of the subscribed common shares and 80% of the preferred shares were paid. Further, a cooperative bought 50,000 common shares and 20,000 preferred shares for cash. Required: Journalize the transactions using both memorandum entry method (MEM) and the journal entry method (JEM)