26 Marin Limited has been authorized to issue 20,900 100 par value, 10%, non-cumulative preference shares and 1,050,435 no-par ordinary shares. The corportion assigned a (2.51 stated value to the ordinary shares. At December 31, 2017, the ledger contained the following balances pertaining to equity. Share Capital-Preference Share Premium-Preference Share Capital-Ordinary Share Premium-Ordinary 117,000 16,800 1,050,435 Treasury Shares-Ordinary (960 shares) Share Premium-Treasury Retained Earnings 1,811,500 9,600 960 80,400 The preference shares were issued for land having a fair value of 133,800. All ordinary shares issued were for cash. In November, 1,440 ordinary shares were purchased for the treasury at a per share cost of 10. In December, 480 treasury shares were sold for 12 per share. No dividends were declared in 2017. Prepare the journal entries for the: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Issuance of preference shares for land. (2) Issuance of ordinary shares for cash. (3) Purchase of treasury shares (ordinary) for cash, (4) Sale of treasury shares for cash. No. Account Titles and Explanation 1. Debit Credit