The equity section of the December $31,2022,$ balance sheet for Delicious Alternative Desserts Inc. showed the following:The equity section of the December $31,2022,$ balance sheet for Delicious Alternative Desserts Inc. showed the following:

Delicious Alternative Desserts Inc.

Equity Section of the Balance Sheet

December $31,2022$

Contributed capital:

Preferred shares, $$0\mathrm{.}40$ cumulative; $80,000$ shares authorized; $53,0\frac{O}{0}$

shares issued and outstanding

Common shares; $250,900$ shares authorized; $113,900$ shares issued and outstanding

Total contributed capital

$$212,909$

During the year $2023,$ the company had the following transactions affecting equity accounts:

Jan. $3$ Sold $13,9$ common shares for a total of $$22,369$ cash.

Mar. $1$ Sold $5,$ e$9$e preferred shares at $$4\mathrm{.}10$ each; cash.

June $15$ Exchanged $7,$ eee common shares for equipment with a fair market value of $$22,500.$ The last common share trade was dated March $15$ at $$4\mathrm{.}81.$

Dec. $31$ Closed the Income Summary account, which showed a credit balance of $$273,09.$

The board of directors had not declared dividends for the past two years $(2022$ and $2023).$

Requlred:

Journalize the above transactions.

Answer is complete and correct.

$\backslash$table$[[$No$,$Date,General Journal,Debit,Credit$],[1,$January $03,2023,$Cash,$0,22,360,],[,$Common shares,$0,,22,360$

Delicious Alternative Desserts Inc.

Equity Section of the Balance Sheet

December $31,2022$

Contributed capital:

Preferred shares, $$0\mathrm{.}40$ cumulative; $80,000$ shares authorized; $53,000$ shares issued and outstanding $ $212,000$

Common shares; $250,000$ shares authorized; $113,000$ shares issued and outstanding $180,800$

Total contributed capital $ $392,800$

Retained earnings $148,000$

Total equity $ $540,800$

During the year $2023,$ the company had the following transactions affecting equity accounts:

Jan. $3$ Sold $13,000$ common shares for a total of $$22,360$ cash.

Mar. $1$ Sold $5,000$ preferred shares at $$4\mathrm{.}10$ each; cash.

June $15$ Exchanged $7,000$ common shares for equipment with a fair market value of $$22,500.$ The last common share trade was dated March $15$ at $$4\mathrm{.}81.$

Dec. $31$ Closed the Income Summary account, which showed a credit balance of $$273,000.$

The board of directors had not declared dividends for the past two years $(2022$ and $2023$