The Equity section of the December 31,2019, balance sheet for Delicious Alternative Desserts inc. showed the following

During the year 2020, the company had the following transactions affecting equity accounts:

Journalize the transactions

Delicious Alternative Desserts Inc. Equity Section of the Balance Sheet December 31, 2019 Contributed capital: Preferred shares, $e.40 cumulative; 80,000 shares authorized; 57,000 Shares issued and outstanding Common shares; 250,000 shares authorized; 117,000 shares issued and outstanding Total contributed capital Retained earnings Total equity $228,800 187,200 $415,200 148,000 $563,200 Mar. Jan. 3. Sold 17,000 common shares for a total of $29, 240 cash. 1 Sold 5,000 preferred shares at $4.50 each; cash. June 15 Exchanged 7,000 common shares for equipment with a fair market value of $24,580. The last common share trade was dated March 15 at $4.85. Dec 31 Closed the Income Summary account, which showed a credit balance of $277,000 Journal entry worksheet Record the issues of common shares for cash. Note: Enter debits before credits General Journal Debit Credit Date January 03, 2020 Record entry Clear entry View general al Journal entry worksheet G Record the issues of preferred shares for cash. Note: Enter debits before credits. General Journal Debit Credit Date March 01, 2020 Record entry Clear entry View general journal 1 2 3 4 > Record the issues of common shares in exchange for equipment. Note: Enter debits before credits. General Journal Debit Credit Date June 15, 2020 Record entsy Clear entry View general journal