Mainland Resources Inc began operations on June 5, 2023 2023 June 5 Gave 4,000 comon shares to the organizers of the corporation in exchange for accounting and legal services velued ot $84,360. I5 Received $22 cash per share for the Issuance of 73 , oes common shares. 16 Issued 10 , 00e preferred shares for cash of $37 per share. 178,000 conmon shares were issued to a creditor who was owed $126,000. 18 The board of directars declared a cash dividend of $13,303 on the preferred shares and 54,800 an the conson shares to shareholders of record on June 20 , payable July 1. 30.145,0e0 comon shares were issued in exchange for inachinery with a fair market volue of 52,568, abo. The shares pere actively teading on this date at $16.00 per share. July 1 The dividends declared on June 18 were pald. Required: Journalize the above equity transactions that occurred during the first month of operations: Cash dividend account is used for declaring dividends