The equity accounts of SAVACorporations on January 1, 2019, were as follows. Shares Capital-Preference (8%, non-cumulative $100par value, 10,000shares authorized and 4,000shares issued) $400,000 Shares Capital-Ordinary (84 par value, 1,000,000shares authorized and 600,000 shares issued) 2,400,000 Shares Premium-Preference 200,000 Shares Premium-Ordinary 1,000,000 Retained Earnings 1,800,000 Treasury Shares (20,000shares at $5) 100,000 During 2020, the corporation had the following transactions and events. 1. Feb. 1 Issued 10,000 ordinary shares for cash $80,000. 2. March. 2 Issued 2,000 preference shares for land, the market value of land $700,000. 3. March 31. Company had cash sales of $103,550 (including taxes) for the month of March. Sales are subject to 9% sales tax. 4. April 3. Sold 8,000 treasury shares for $6. 5. May 20. Declare a $100,000 cash dividends for both ordinary and preference shareholders. 6. July 2. Announced 3 for 1 shares split. 7. August 2. Declare 10% shares dividends to shareholders when market price was $9. 8. Sept 4. Issued the shares for shares dividends which declared on August 2. Instructions: 1. Journalize the transactions occurred during 2019