Indigo 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: Feb. 10 Mar. 1 1 20 Apr. June July Sept. Nov. Issued 81,000 common shares at $5.00 per share. Issued 5,100 preferred shares at $114 per share. Issued 21,900 common shares for land. The land's asking price was $121,500 and its appraised value was $109,500. Issued 79,000 common shares at $4.50 per share. Issued 11,100 common shares to lawyers to pay for their bill of $49,950 for services they performed in helping the o Issued 10,800 common shares at $5.00 per share. Issued 1,300 preferred shares at $116 per share. 7 1 1 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.) Debit Credit Date Account Titles and Explanation (To record issuance of shares.) 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 Ofor 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.) (To record issuance of shares.) (To record issuance of shares.) (To record issuance of shares.) (To record issuance of shares.) Question Part Score Determine the number of shares issued and the average per share amount for both common and preferred shares. (Round average per share to 2 decimal places, e.g. 52.75.) No. of Shares Average per share Preferred Shares $ $ Common Shares Indigo 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: Feb. 10 1 1 20 Mar. Apr. June July Sept. Nov. Issued 81,000 common shares at $5.00 per share. Issued 5,100 preferred shares at $114 per share. Issued 21,900 common shares for land. The land's asking price was $121,500 and its appraised value was $109,500. Issued 79,000 common shares at $4.50 per share. Issued 11,100 common shares to lawyers to pay for their bill of $49,950 for services they performed in helping the ci Issued 10,800 common shares at $5.00 per share. Issued 1,300 preferred shares at $116 per share. 7 1 1 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 O for the amounts. Record journal entries in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Indigo 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 81,000 common shares at $5.00 per share. ued 5,100 preferred shares at $114 per share. ued 21,900 common shares for land. The land's asking price was $121,500 and its appraised value was $109,500. ued 79,000 common shares at $4.50 per share. ued 11,100 common shares to lawyers to pay for their bill of $49,950 for services they performed in helping the company organize. ued 10,800 common shares at $5.00 per share. ued 1,300 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.) Credit Debit Date Account Titles and Explanation (To record issuance of shares.)