Cleo Company has two classes of share capital outstanding: 8%, $60 par preference and $12 par ordinary. At December 31, 2017, the following accounts were included in equity. Share Capital Preference, 80,000 shares authorized, 10,000 shares issued and outstanding $600.000 Share Capital Ordinary, 160,000 shares authorized, 45,000 shares issued and outstanding $540.000 Share Premium Preference $60.000 Share Premium Ordinary $152.000 Retained Earnings $858.000 The following transactions during 2018: Jan. 11 Issued 20.000 ordinary shares for cash at $14 per shares. Feb. 1 Issued 40.000 preference shares for cash at $50 per share. May 2 Share split 3 for 1. June 20 8,000 ordinary shares are issued to the founders of the corporation for land valued by the board of directors at $300,000. Aug.21 Purchased 36.000 treasury shares at $17 per share. Oct.30 Reissued 20.000 treasury shares at $15 Nov. 9 Reissued 13.000 treasury shares at $17 Dec. 2 Reissued 2.000 treasury shares at $19 Dec. 28 A cash dividend for preference share was declared, and for ordinary share of 20 cents per share was declared, payable February 1, 2019 to stockholders of record on January 2, 2019.

Instructions: Prepare all journal entries in the transaction above