Question 11 of 12 0.81/1 E of the new job, the accountant was unable to review what he had learned earlier about corporation accounting. During the first month, he made the following entries for the corporation's common shares: Date Account Titles and explanation Credit May 12 Cash Debit 241,600 241,600 Common Shares (Issued 15,100 common shares at $16 per share.) Cash 14 418,200 418,200 Common Shares (Issued 8.200 preferred shares at $51 per share.) Common Shares 15 14,950 14,950 Cash (Purchased and retired 1,150 common shares at $13 per share) 31 Cash 11,050 8.450 Common Shares Gain on Sale of Shares 2,600 (issued 650 shares at $17 per share.)