In its first year of operations, Kingbird Corporation had the following transactions relating to its convertible preferred shares and common shares. The preferred dividend rate is $ 2 per share.

Jan.	1		Issued 11,200 common shares at $10 per share.
Feb.	1		Issued 4,200 preferred shares for $41 per share.
Jul.	1		Declared and paid annual preferred dividends.
Nov.	1		Converted 2,200 preferred shares to common shares when the market value of the preferred shares was $42 and the market value of the common shares was $20. One share of preferred is convertible to 10 common shares.

Journalize the transactions.