Mainland Resources Inc. began operations on June 5, 2023. 2023 June 5 Gave 4,000 common shares to the organizers of the corporation in exchange for accounting and legal services valued at $83,900. 15 Received $23 cash per share for the issuance of 69,000 common shares. 16 Issued 10,000 preferred shares for cash of $33 per share. 178,000 common shares were issued to a creditor who was owed $124,000. 18 The board of directors declared a cash dividend of $18,900 on the preferred shares and $4,400 on the common shares to shareholders of record on June 20 , payable July 1. 30144,000 common shares were issued in exchange for machinery with a fair market value of $2,648,000. The shares were actively trading on this date at $17.00 per share. July 1 The dividends declared on June 18 were paid. Required: Journalize the above equity transactions that occurred during the first month of operations. Cash dividend account is used for declaring dividends