Mainland Resources Inc. began operations on June $5,2023.$ Journalize the following equity transactions that occurred during the first month of operations: $2023$ june transactions $5$th Gave $4,000$ common shares to the organizers of the corporation in exchange for accounting and legal services valued at $$85,200.$

$15$th Received $$23$ cash per share for the issuance of $82,000$ common shares.

$16$th Issued $10,000$ preferred shares for cash of $$46$ per share.

$17$th $8,000$ common shares were issued to a creditor who was owed $$137,000.$

$18$ th The board of directors declared a cash dividend of $$20,200$ on the preferred shares and $$5,700$ on the common shares to shareholders of record on June $20,$ payable July $1.$

$30$th $157,000$ common shares were issued in exchange for machinery with a fair market value of $$2,869,000.$ The shares were actively trading on this date at $$17\mathrm{.}00$ per share.

July $1$ The dividends declared on June $18$ were paid.