Please asnwer these two questions and provide accurate answers. Thanks.

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Problem 11-6A (Part Level Submission) Buffalo Limited has been authorized to issue 20,200 101 par value, 10%, non-cumulative preference shares and 1,109,520 no-par ordinary shares. The corporation assigned a 2.68 stated value to the ordinary shares. At December 31, 2017, the ledger contained the following balances pertaining to equity. Share Capital-Preference Share Premium-Preference Share Capital-Ordinary Share Premium-Ordinary Treasury Shares-Ordinary (1,040 shares) Share Premium-Treasury Retained Earnings 110,090 24,410 1,109,520 1,839,000 10,400 1,040 80,100 The preference shares were issued for land having a fair value of 134,500. All ordinary shares issued were for cash. In November, 1,560 ordinary shares were purchased for the treasury at a per share cost of 10. In December, 520 treasury shares were sold for 12 per share. No dividends were declared in 2017 (a) Prepare the journal entries for the: (Credit account titles are automatically indented when amount is entered. Do not indent manually.) (1) Issuance of preference shares for land (2) Issuance of ordinary shares for cash (3) Purchase of treasury shares (ordinary) for cash. (4) Sale of treasury shares for cash. No. Account Titles and Explanation Debit Credit 1. 2. 3. 4