On March 8, Kumar Management Inc., a publicly traded company, issued 5,600 preferred shares for cash of $29 per share. On April 20, when the shares were trading at $35, the company issued an additional 3,400 preferred shares in exchange for land with a fair value of $123,800. (a) Your answer is partially correct. Prepare the journal entries for each transaction. (List all debit entries before credit entries. 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 Mar. 8 Cash April 20