Earth Star Diamonds Inc, began a potentially lucrative mining operation on October 1,2023 . It is authorized to issue too,000 shares of $0.60 cumulative preferred shares and 500,000 common shares. The company uses the cash dividends account to keep track of all dividends declared. Part A Required: Prepare journal entries for each of the transactions listed. Oct. I Issued for cash, 1,eee shares of the preferred shares at \$4.7e each. 10 Issued for cash, 49 , eee shares of the common shares at $3.50 per share. 15 Earth star purchased land for $185,800, paying cash of $65,500 and borrowing the balance from the bank (to be repaid in two years). 2814,560 preferred shates were issued today for total cash proceeds of $81,635. 24 In addition to the declaration of the annual dividend on the preferred shares, dividends of $26,87 were declared on the comon shares today, payable Novesber 15 , 2023. 31 Revenues of $890,800 were earned during the month; a11 cash. Expenses, a11 cash, totalling $295,980 were incurred in October. Close the Incone Sumary and dividend accounts. Record the issue of preferred shares. Note: Enter debits before credits. Note: Enter debits before credits. \begin{tabular}{|c|c|c|c|} \hline Date & General Journal & Debit & Credit \\ \hline October 01, 2023 & & & \\ \hline \end{tabular} Total liabilities