PART 1 Given Data: On October 3, 2020, Synthetic Inc, a cell phone protector company, issued 6,000 of its preferred shares for cash of $18.50 each. On November 19 the company issued 3,400 preferred shares in exchange for land with a fair market value of $60,000. a. Prepared the entries for October 3 and November 19. b. Calculate the average issued price per preferred share. PART 2 Given Data: Prepare journal entries to record the following transactions for Desmond Corporation: Apr 15 June 30 Dec. 31 Declared a $48,000 cash dividend payable to common shareholders Paid the dividend declared on April 15. Closed the Cash Dividends account