Blue Corporation, a private corporation, was organized on February 1, 2023. It is authorized to issue 73,200, $6 noncumulative preferred shares, and an unlimited number of common shares. The following transactions were completed during the first year: Feb. 10 Issued 58,560 common shares at $4 per share. Mar. 1 Issued 3,660 preferred shares at $114 per share. Apr. 1 June 20 July 7 Sept. 1 Nov. 1 Issued 16,470 common shares for land. The land's asking price was $73,200 and its appraised value was $65,880. Issued 57,096 common shares at $4.50 per share. Issued 7,320 common shares to lawyers to pay for their bill of $32,940 for services they performed in helping the comp Issued 7,320 common shares at $5 per share. Issued 732 preferred shares at $120 per share. Open general ledger accounts and post to the shareholders' equity accounts. Preferred Shares Date Explanation Ref. Debit Mar. 1 31 Nov. 1 Common Shares 31 Credit Balance Date Explanation Ref. Debit Credit Balance Feb. 10 31 Apr. 1 J1 June 20 31 July 7 J1 Sept. 1 31