Gabriellle Ltd. was incorporated on February 1, 2019 and is authorized to issue an unlimited number of preferred and common shares. The company entered into the following transactions during the year:

Feb 10Issued 30,000 common shares for $ 23 per share.

Feb 21Issued 700 common shares to the company's accountants as payment for a bill of

$ 18,000 for services performed in helping the company to incorporate.

Mar 16Issued 1,000 convertible preferred shares for $ 95 per share.

Sep 10Issued 5,000 convertible preferred shares for $ 105 per share.

Sep17Reacquired 3,000 common shares for $ 20 per share.

Oct 1Converted 1,000 preferred shares into common shares. One preferred share is convertible into 10,000 common shares. The fair value of the common shares was $ 25 and the fair value of the preferred shares was $ 102.

Instructions:

Prepare the journal entries to record the above transactions.