Provide the journal entries for each of the transactions, ICredit occount titles are automotically indented when the anount is entered, Do not inderit manuolly. If no entry is reguired, select "No entry" for the occount bifier and enter ofor the ameints, List ail detil entries before credit entries.) Cullumber Observation Inc, on May 1, 2024, and was authorized to issue 500,000 common shares and 100,0005% non:-participatiog. convertible preferred shares. During the remainder of 2024 , the company entered into the following transactions: 1. Issued 31,000 common shares in exchange for $713,000. 2. Issued 5,000 preferred shares in exchange for $65,000. 3. Repurchased 2,000 common shares for $24.00 per share in the open market. The company entered into no other transactions that affected shareholders equity during 2024. (a) Provide the journal entries for each of the transactions. (Credit account titles are automatically indented when the omount is entered. Do not indent manualil. If no entry is required, select "No entry" for the occount tities and enter O ofor the amounts List all debit entries before credit entries.)