E F G PART 1 Given Data: On October 3, 2020, Synthetic Inc, a cell phone protector company, issued 6,000 of its preferred shares for cash of $19.50 each. On November 19 the company issued 3,400 preferred shares in exchange for land with a fair market value of $80,000. a. Prepared the entries for October 3 and November 19. b. Calculate the average issued price per preferred share. 1 2 3 PART 2 4 5 Given Data: 6 7 Prepare journal entries to record the following transactions for Desmond Corporation: 8 b. Calculate the average issued price per preferred share. 1 2 3 PART 2 4 5 Given Data: 5 7 Prepare journal entries to record the following transactions for Desmond Corporation: 8 9 Apr. 15 Declared a $98,000 cash dividend payable to common shareholders o June 30 Paid the dividend declared on April 15. 1 Dec. 31 Closed the Cash Dividends account 2