Jan. 1		The company was granted a charter that authorizes the issuance of an unlimited number of common shares, and 268,000 preferred shares that entitle the holder to a $4 per share annual dividend.
Jan. 10		Issued 15,400 common shares to the founders of the corporation for land that has a fair value of $462,000.
Mar. 10		Issued 4,400 preferred shares for cash for $100 per share.
Apr. 15		Issued 110 common shares to a car dealer in exchange for a used vehicle. The asking price for the car is $6,300. At the time of the exchange, the common shares are selling at $58 per share.
Aug. 20		Decided to issue shares on a subscription basis to select individuals, giving each person the right to purchase 230 common shares at $60 per share. Forty individuals accepted the companys offer and agreed to pay 10% down and the remainder in three equal monthly instalments starting in February 2021.
Oct. 11		Issued 3,000 common shares and 600 preferred shares for a lump sum of $227,300 cash. At the time of sale, both the common and preferred shares were actively traded. The common shares were trading at $58 each; the preferred shares at $105 each.
Dec. 31		Declared cash dividends totalling $26,000, payable on January 31, 2021, to holders of record on January 15, 2021.

(a) Prepare the general journal entries to record the transactions.