E1 (Recording the Issuance of Ordinary and Preference Shares) Abemathy Corporation was organized on January 1, 2015. It is authorized to issue 10,000 shares of 8%, $50 par value preference shares, and 500,000 shares of no-par ordinary shares with a stated value of $2 per share. The following share transactions were completed during the first year. Jan. 10 Issued 80,000 ordinary shares for cash at $5 per share. Mar. 1 Issued 5,000 preference shares for cash at $108 per share. Apr. 1 Issued 24,000 ordinary shares for land. The asking price of the land was $90,000 the fair value of the land was $80,000. May 1 Issued 80,000 ordinary shares for cash at $7 per share. Aug. 1 Issued 10,000 ordinary shares to attorneys in payment of their bill of $50,000 for services rendered in helping the company organize. Sept. 1 Issued 10,000 ordinary shares for cash at $9 per share. Nov. 1 Issued 1,000 preference shares for cash at $112 per share. Instructions Prepare the journal entries to record the above transactions E 2 (Lump-Sum Sales of Ordinary and Preference Shares) Hartman Inc. issues 500 shares of 10 par value ordinary shares and 100 shares of 100 par value preference shares for a lump sum of 100,000. Instructions (a) Prepare the journal entry for the issuance when the fair value of the ordinary shares is 168 each and fair value of the preference shares is 210 each. (Round to the nearest euro.) (b) Prepare the journal entry for the issuance when only the fair value of the ordinary shares (170 per share) is known