GabriellleLtd.wasincorporatedonFebruary 1, 2019and is authorized to issue an unlimited number of preferred and common shares. The company entered into the following transactions during the year:

Feb10 Issued 30,000 common shares for $ 23 per share.

Feb21 Issued 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.

Mar16 Issued 1,000 convertible preferred shares for $ 95 per share.

Sep10 Issued 5,000 convertible preferred shares for $ 105 per share.

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

Oct1 Converted 1,000 preferred shares into common shares. One preferred share is convertible into 10,000 common shares. The fair value of the commonshares was $25 and the fair value of thepreferred shareswas$102.

Instructions:

Prepare the journal entries to record the above transactions.