Exercise 12-5 Issuing shares LO3, 4 Mainland Resources Inc. began operations on June 5. 2020. Journalize the following equity transactions that occurred during the first month of operations: 2020 15 1 Gave 4.000.common states to the organizens of the corporation in exchange for accounting and local services Valued at $85,200 Reched $23 enth per share for the issuance of 82000 common whores ssued 10,000 preferred stor for cash of $46 po sharel Boob common shares were bed to a creditor who was owed $137.000 The board of directors declared a sh derid of $20.200 on the preferred shoes and $5.700 on the common shares to shareholders of record on Dune Ripaythe July 157 000 common shares werissedechingerot machinery with to mak e of $2.869,000. The shares were acvely trading or the date at $17.00 Berisha The dividends declared on June 18 weite old