Ivanhoe's Dance Studios Ltd. is a public company, and accordingly uses IFRS for financial reporting. The corporate charter authorizes the issuance of an unlimited number of common shares and 40,000 preferred shares with a $2 dividend. At the beginning of 2023 , the opening account balances indicated that 25,000 common shares had been issued for $6 per share, anc no preferred shares had been issued. Opening retained earnings were $306,000. The transactions during the year were as follows: Jan. 15 Issued 12,000 common shares at $7 per share. Feb. 12 Issued 2,200 preferred shares at $61 per share. Sept. 2 Issued 6,000 common shares in exchange for land valued at $42,000. Oct. 31 Declared and paid a dividend on preferred shares of $2 per share. Nov. 1 Declared and paid a dividend on common shares of $1.60 per share. Nov. 15 Purchased and retired 300 preferred shares at $65 per share. Dec. 31 After preliminary closing entries, the Income Summary account had a credit balance of $212,000. (a) Prepare journal entries to record the transactions above. (List all debit entries before credit entries. 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 0 for the amounts. Record journal entries in the order presented in the problem.)