Question 7 of 18 View Policies Current Attempt in Progress -/3 E! Sunland Corporation was organized on January 1, 2022. It is authorized to issue 9,600 shares of 8%, $50 par value preference shares. and 501,500 shares of no-par ordinary shares with a stated value of $2 per share. The following share transactions were completed during the first year. Jan. 10 Issued 80,050 ordinary shares for cash at $6 per share. Mar, 1 Issued 5,930 preference shares for cash at $113 per share. Apr. 1 May 1 Issued 24,680 ordinary shares for land. The asking price of the land was $90,820; the fair value of the land was $80,050. Issued 80,050 ordinary shares for cash at $8 per share. Aug. 1 Issued 9,600 ordinary shares to attorneys in payment of their bill of $50,400 for services rendered in helping the company organize. Sept. 1 Issued 9,600 ordinary shares for cash at $10 per share. Nov. 1 Issued 1,100 preference shares for cash at $115 per share. Prepare the journal entries to record the above transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit