Transaction entries: Date Account Titles and Explanation Debit Credit an 2 V Cash 5,000,000 Preferred Shares 5,000,000 eb. 8 V Land 209,000 Common Shares 209,000 1ar. 5 v Dividends Declared 50,000 Dividends Payable 50,000 Tar. 20 No Entry 0 No Entry 0 pr. 2 Dividends Payable 50,000 Cash 50,000 pr. 18 Cash 1,230,000 Common Shares 1.230,000 une 5 Dividends Declared 50,000 Dividends Payable 50,000 une 20 V No Entry 0 No Entry 0 uly 1 Dividends Payable 50,000 Cash 50.000 ept. 5 V Dividends Declared 50,000 Dividends Payable 50,000 ept. 20 No Entry 0 No Entry 0 Oct. 1 Dividends Payable 50,000 Cash 50,000 Oct. 4 Cash 1,075,000 Preferred Shares 1,075,000 lec. 5