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please journalize the transactions Indigo Corp., a private corporation, received its articles of incorporation on January 3, 2021 It is authorized to issue an unlimited

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Indigo Corp., a private corporation, received its articles of incorporation on January 3, 2021 It is authorized to issue an unlimited number of common shares and $1 preferred shares. It had the following share transactions during the year Jan. 12 Issued 50,000 common shares for $5 per share. Issued 950 common shares in payment of a $4,600 bill for legal services. July 11 Issued 1.000 preferred shares for $25 per share, Oct. 1 Issued 10,000 common shares in exchange for land. The land's fair value was estimated to be $54.000. Indigo's accountant estimated that the fair value of the shares issued might be as high as 56 per share 24 Date Account Titles and Explanation Debit Credit (To record issuance of shares.)

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