Oakridge Ltd., a public corporation reporting under IFRS, was incorporated on January 1, 2020. The company completed the following transactions during its first year:

Jan 5Issued 50,000 common shares for $2.50 per share.

Jan 20Issued 3,000 common shares to pay legal expenses. The value of the legal expenses was $10,000. The common shares were trading at $5 per share on the stock market at the time.

Feb 10Issued 10,000 preferred shares for $30.00 per share.

Aug 12Reacquired 15,000 common shares for $2.40 per share.

Oct 1Issued 5,000 common shares for $2.25 per share.

Dec 15Reacquired 20,000 common shares for $2.65 per share.

Instructions:

Prepare the journal entries to record the above transactions.

Date

Accounts

Debit

Credit