Blue Spruce Corporation's charter authorizes the issuance of 0.97 million common shares and 530,000 preferred shares that have a dividend rate of $6 per share per year. The following transactions involving share issues were completed. Assume that Blue Spruce follows IFRS and that each transaction is independent of the others, 1. 2. Issued 4,500 common shares for machinery. The machinery had been appraised at $74,800, and the seller's carrying amount was $58,600. The common shares' most recent market price is $20 a share. The board of directors declared a $7 dividend on both the 20,000 outstanding common shares and the 40,000 outstanding preferred shares. Issued 3,400 common shares and 1.400 preferred shares for a lump sum of $164,000. The common shares had been selling at $15 and the preferred at $83. Issued 2.200 common shares and 135 preferred shares for furniture. The common shares had a fair value of $13 per share and the furniture was appraised at $40,000. 3. 4. Prepare the journal entries to record the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Round answers to decimal places, eg. 5.275. Do not round intermediate calculations.) Credit Debit Explanation