somheducation.com/ext/map/index.html?con-con&external browser-08 launch Url http253A252F%252FWlackboard northemcellege care porumehe Maps GE YouTube work due 7/30/20 Save 7 Westby Corp., a high school uniform manufacturer, was authorized to issue an unlimited number of common shares. During January 2020, its first month of operations, the following selected transactions occurred: Jan. 1 1,000 shares were issued to the organizers of the corporation. The total value of the shares was determined to be $12,000. 5 15,000 shares were sold to various shareholders for $13.50 each. 15 The board of directors declared a cash dividend af $0.75 per common share to shareholders of record on January 19, payable January 31. 20 4,000 shares were issued in exchange for land valued at $45,ace. The shares were actively trading on this date at $11.50 per share. 31 Closed the Income Surnary account, which showed credit balance of $165,ace. 31 Paid the dividends declared on January 15, ces Required: a. Journalize the above transactions. The Company does not use a Cash Dividends Account 3) View transaction list View journal entry worksheet Credit General Journal Date No Debit 12.000 1 12.000 January 01, 2020 Organization expenses Common shares