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Mainland Resources Inc. began operations on June 5,2023. 223 June 5 Gave 4,ee0 common shares to the organizers of the corporation in exchange for accounting and legal services valued at $84,300. 15 Received $22 cash per shace for the 155 anced 10,000 preferred shares for cash of $37 per share. 178,660 common shares were issued to a creditor who was owed $128, e6e. common shares to shareholders of record dividend of $19,300 on the preferred shares and $4,800 on the 30148,00 common shares were issued in exeh on June 20, payable July 1. shares were actively trading on this date at for machinery with a fair market value of 32,568 , 0e9. The July 1 The dividends declared on June 18 were paid $16. . per share. Requlred: Journalize the above equity transactions that occurred during the first month of operations. Cash divdend account is used declaring dividends