The articles of incorporation for Peahen Corp. authorize the company to issue $100,000$$$6$ preferred shares and $500,000$ common shares. During first year of operations, Peahen Corp. completed the following selected transactions:

$($C$)($Click the icon to view the transactions.$)$

Required

Record the transactions in the general journal.

Prepare the shareholders' equity section of the Peahen Corp. balance shest at November $30,2020$

Requirement $1.$ Record the transactions in the journal. $($Record debits first, then credits. Explanations are not required.$)$

Dec. $4,2019$ issued $6,000$ fommon shares to the consultants who formed the corporation, receiving cash of $$180,000$

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