record the transactions given above in the appropriate journal

The entry shown below was taken from the general journal in closing the partnership books of Kaizen Company on February 28, 2021: Additional Information: Partnership liabilities are to be assumed by the newly-formed corporation called Kaizen Corp. Kaizen Corp. was organized on March 1, 2021 which was authorized to issue 90,000 shares of 8% cumulative and participating P 50 par value preference shares and 500,000 ordinary shares with a par value of P10 per share. The following transactions took place in 2021: March 2 Issued 97,000 ordinary shares to the five (5) incorporators in exchange for the net assets acquired from Kaizen Company. 3 Paid the registration fees, promotional expenses and the cost of printing the stock certificates and other business forms during the incorporation process amounting to P7,000