Indigo Corp., a private corporation, received its articles of incorporation on January $3,2024.$ It is authorized to issue an unlimited number of common shares and $$1$ preferred shares. It had the following share transactions during the year:

Jan.

Issued $55,500$ common shares for $$5$ per share.

$12$

Issued $1,060$ common shares in payment of a $$6,516$ bill for legal services.

$24$

$11$

July

Issued $1,110$ preferred shares for $$25$ per share.

Oct.

$1$ Issued $11,100$ common shares in exchange for land. The land's fair value was estimated to be $$61,050.$ Indigo's accountant estimated that the fair value of the shares issued might be as high as $$6$ per share.

$($a$)$

Journalize the share 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 O for the amounts. Record journal entries in the order presented in the problem. List all debit entries before cr