Exercise 15-1 Pronghorn Inc. was organized on January 1, 2020. It is authorized to issue an unlimited number of common shares and 103,000 preferred shares with a $8 dividend. The following share transactions were completed during the first year: Jan. 10 Issued 209,000 common shares for cash at $25 per share. Mar. 1 Issued 17,500 preferred shares for cash at $118 per share. Apr. 1 Issued 3,000 common shares for land. The asking price for the land was $67,000; its fair value was $63,100. May 1 Issued 21,000 common shares for cash at $17 per share. Aug. 1 Issued 1,700 common shares to lawyers in payment of their bill of $30,600 for services rendered in helping the company incorporate. Sept. 1 Issued 35,000 common shares for cash at $16 per share. Nov. 1 Issued 1,500 preferred shares for cash at $125 per share. Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)