2020, its first month of operations, the following selected transactions occurred: Jan. 1 1,000 shares were issued to the organizers of the corporation. The total value of the shares was determined to be $11,000. 5 15,000 shares were sold to various shareholders for $12.50 each. 15 The board of directors declared a cash dividend of $0.65 per common share to shareholders of record on January 19, payable January 31. 20 4,000 shares were issued in exchange for land valued at $44,000. The shares were actively trading on this date at $10.50 per share. 31 Closed the Income Summary account, which showed a credit balance of $155,000. 31 Paid the dividends declared on January 15. Required: . Journalize the above transactions. The Company does not use a Cash Dividends Account View transaction list 1 Record the issuance of shares. > 2 Record the issuance of shares. 3 Record the declared dividends. 4 Record the issuance of shares. 5 Record to close the income summary account. Credit 6 Record the paid dividends