Eddle Edwards Limited, a public company, was formed on January $2$ of this year, with the following authorlzed capital structure:

Preferred shares: No par value, $$1\mathrm{.}00$ per share quarterly cumulative dividend, callable at $103,100,000$ shares

Common shares: Unlimited number of shares

The following selected transactions occurred during the first slx months of operations:

January $2$ Sold and issued $100,000$ connon shares in exchange for land and building with a conbined appraised value of $$2,260,060.$

sixty percent of the acquisition cost is attributable to the building.

January $3$ Sold and issued $50,600$ preferred shares for $$1,250,060$ cash.

Declared the quarterly cash dividend on the preferred shares, payable on April $25,$ and a $5$ percent comnon stock dividend

April $1$ on all outstanding comion shares to be distributed on April $25.$ The narket price of the comon shares on April $1$ was $$24$

per share.

April $25$ Paid the preferred dividend and issued the common stock dividend that were declared on April $1.$

Required:

Prepare joumal entrles to record the above transactions. $($If no entry is required for a transaction$/$event$,$ select $"$No journal entry

requlred" in the first account field.$)$