Concord Limited was organized on January 1, 2020. It is authorized to issue 13,000 8%, HK$1.000 par value preference shares, and 505,000 no-par ordinary shares with a stated value of HK$20 per share. The following share transactions were completed during the first year. Jan. 10 Mar. 1 Apr. 1 May 1 Issued 76.500 ordinary shares for cash at HK$48 per share. Issued 5.450 preference shares for cash at HK$1.050 per share. Issued 20,000 ordinary shares for land. The asking price of the land was HK$985,000. The fair value of the land was HK$929.000. Issued 80,500 shares of ordinary shares for cash at HK$45 per share. Issued 12,000 ordinary shares to attorneys in payment of their bill of HK$348,000 for services provided in helping the company organize. Issued 10,000 ordinary shares for cash at HK$51 per share. Issued 3,000 preference shares for cash at HK$1,060 per share. Aug. 1 Sept. 1 Nov. 1 Journalize the transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Cred Post to the equity accounts. (Post entries in the order of journal entries presented in the previous part.) Share Capital-Preference Explanation Ref. Date Debit Credit Balance J5 J5 Share Capital-Ordinary Explanation Ref. | Date Debit Credit Balance J5 JS 15 J5 J5 Share Premium-Preference Explanation Ref. Date Debit Credit Balance J5 JS Share Premium-Ordinary Date Explanation Ref. Debit Credit Balance J5 J5