Flounder Corporation, a private corporation, was organized on February 1, 2020. It is authorized to issue 100,000, $6 noncumulative preferred shares, and an unlimited number of common shares. The following transactions were completed during the first year: 10 Feb. Mar. 1 1 Apr. June July Sept. Nov. 20 7 1 1 Issued 78,000 common shares at $3.50 per share. Issued 4.700 preferred shares at $112 per share. Issued 23,100 common shares for land. The land's asking price was $92,850 and its appraised value was $80,850. Issued 76,000 common shares at $4.50 per share. Issued 11,000 common shares to lawyers to pay for their bill of $49,500 for services they performed in helping the cr Issued 10,100 common shares at $5.50 per share. Issued 1.400 preferred shares at $116 per share. Flounder Corporation, a private corporation, was organized on February 1, 2020. It is authorized to issue 100,000, $6 noncumulative preferred shares, and an unlimited number of common shares. The following transactions were completed during the first year: ued 78,000 common shares at $3.50 per share. ued 4.700 preferred shares at $112 per share. ued 23,100 common shares for land. The land's asking price was $92.850 and its appraised value was $80,850. ued 76,000 common shares at $4.50 per share. ued 11,000 common shares to lawyers to pay for their bill of $49.500 for services they performed in helping the company organize. ued 10,100 common shares at $5.50 per share. ued 1.400 preferred shares at $116 per share. Journalize the 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 for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit (To record issuance of shares.) > (To record issuance of shares.) (To record issuance of shares.) (To record issuance of shares.) V (To record issuance of shares) > (To record issuance of shares.) (To record issuance of shares)