RS 12-10 Issuance of preferred shares in exchange for land 103 On October 3, 2020, Synthetic Inc, a cell phone protector company, issued 4,000 of its preferred shares for cash of $15 each. On November 19 the company issued 3,400 preferred shares in exchange for land with a fair market value of $52.480. a. Prepare the entries for October 3 and November 19. b. Calculate the average issue price per preferred share