On March 8, Kumar Management Inc., a publicly traded company, issued 5,000 preferred shares for cash of $31 per share. On April 20, when the shares were trading at $33, the company issued an additional 2,600 preferred shares in exchange for land with a fair value of $91,300. Prepare the journal entries for each transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 8v April 20 Prepare the journal entry if you were unable to determine the land's fair value on April 20. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit April 20 On March 8, Kumar Management Inc., a publicly traded company, issued 5,000 preferred shares for cash of $31 per share. On April 20, when the shares were trading at $33, the company issued an additional 2,6 preferred shares in exchange for land with a fair value of $91,300 Prepare the journal entries for each transaction. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" fo the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Prepare the journal entry if you were unable to determine the land's fair value on April 20. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts) Date Account Titles and Explanation Debit Credit April 20