Sampson Corporation was organized this year to operate a financial consulting business. The charter authorized the issue of 8,000 common shares. During the first year, the following selected transactions were completed: a. Sold and issued 5,600 common shares for cash at $23 per share. b. Sold and issued 560 common shares for a piece of land to be used for a facilities site; construction began immediately. Assume the land was appraised at $12,880 and that the market price per share was $23 on the date of issuance. Debit the land account. c. Sold and issued 1,200 common shares for cash at $24 per share. d. At year-end, the statement of earnings reported a net loss of $5,000. Because a loss was incurred, no income tax expense was recorded. Required: 1. Prepare the journal entries to record each of these transactions and to close the accounts. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 4 Record sale of common shares. Note: Enter debits before credits. Transaction a. General Journal Debit Credit >