6 (10 marks) Pleakly Co. was authorized to issue 10,000 $2.00 preferred shares and unlimited common shares. December 31 is Pleakly's year-end. During 2020, its first year of operations, the following selected transactions occurred: January 15: Issued 32,000 common shares to the corporation's organizers in exchange for legal services incorporating the business. Their services are estimated to be worth $15,000. February 20: 15,000 common shares were issued for cash of $6 per share. March 7: 4,500 preferred shares were issued for cash totaling $90,000. April 9: 60,000 common shares were issued in exchange for land and building with appraised market values of $300,000 and $120,000 respectively. May 1: 3,500 of the preferred shares were issued for a cash price of $18.00 per share. Required: a. Prepare journal entries for each of the items above during Pleakly's first year of operations