Fast Cars Inc. was authorized to issue 50,000$1.50 preferred shares and 300,000 common shares. During 2023 , its first year of operations, the following selected transactions occurred: Jan. I 5,200 of the preferred shares were issued at $13.00 per sharo; cash. Feb. 515,000 of the coxaron shares were issued for a total of $128,000; cash. Mar. 203,000 of the connon shares were given to the organizars of the corporation regaxding their efforts. The shares were valued at a total of $29,000. May 1512,200 preferred shares and 21,000 conmon shares were lssued at $13.10 and $9,50 respectively; cash. Dec. 31 The Incone Surmary account was closed; it showed a dobit bulance of $331,000. Decenber 31 is Fast Car's year-end. Required: a. Journalize the above transactions. Journal entry worksheet 2 Record the issue of preferred shares. Notes Enter dobits before crecits. Fast Cars Inc. was authorized to issue 50,000$1.50 preferred shares and 300,000 common shares. During 2023 , its first year of operations, the following selected transactions occurred: Jan. I 5,200 of the preforred shares vere issued at $13.00 per share; cash. Feb. 515,000 of the cormon shares were issued for a total of $128,000, oash. Mar. 203,000 of the common ahares were given to the organizers of the corporation ragarding their efforts. Tho ghares were valued at a total of $29,000. May 15.12,200 proferred ahares and 21,000 conmon aharen were 1ssued at $13.10 and $9.50 respectivelyi cash. Dec. 31 Tho Income Sumnary account was clored; it showed a debit balance of $331,000. Decomber 31 is Fast cor's year-end. Required: a. Journalize the above transactions. Journal entry worksheet Fast Cars inc. was authorized to issue 50,000$1.50 preferred shares and 300,000 common shares. During 2023 , its first year of operations, the following selected transactions occurred: Jan. A 5,200 of the preferred shares were issued at $13.00 per sharel cash. Feb. 515,000 of the conmon shaxes wore issued for a total of $128,000, cash. Mex. 203,000 of the cosuion shares were given to the organizers of tho corporation ragarding. their efforts. The shares were valued at a total of $29,000. May 1512,200 preferred shares and 21,000 common sharea were 1 ssued at $13,10 and $9.50 respectively; cash. Dec. 31 The Incone Summary account vas olosed; it ahowed a debit balance of $331,000. December 31 ia Fast Car's yoar-end. Required: a. Journalize the above transactions. Journal entry worksheet Record the issue of shares to organizers for their work. Note: Enter debits before enedits. Fast Cars Inc. was authorized to issue 50,000$1.50 preferred shares and 300.000 common shares. During 2023 , its first year of operations, the following selected transactions occurred: Jan. I 5,200 of the preforred shares wero dssued at $13.00 per share; cash. Fob. 5,15,000 of the cosmon shares were iasued for a total of $128,000; oash. Mar. 203,000 of the conwon ahares were given to the organizera of tho corporation regarding thoix efforts. The shares ware valued at a total of $29,000. May 1512,200 preferred shares and 21,000 cormon aharen vere issued at $13.10 and $9.50 respectively; cash. Dec. 31. The Incone Sunowary account was olosed; 1 t showed a dabit balance of $331,000. December 31 is Fast Car's year-end. Required: a. Journalize the above transactions. Journal entry worksheet Record the issue of preferred and common shares. Nokal inter debits before eredits: Fast Cars Inc. was authorized to issue 50,000$1.50 preferred shares and 300,000 common shares. During 2023 , its first year of operations, the following selected transactions occurred: Jan. 15,200 of the preferred shares were issued at $13,00 per share; cash. Fob. 515,000 of the cormon shares were issued for a total of $128,000; oash. Mar. 203,000 of the cosvon shares were given to the organizers of the corporation regarding their offorts. The sharea were valued at a total of $29,000. May 1512,200 preferred share B and 21,000 ccrson shares were issued at $13.10 and $9.50 respectively; cash. Dec. 31 The Incone Sumnary account was closed; it showed a debit balance of $331,000, December 31 ia Fost Car's year-end. Required: a. Journalize the above transactions. Journal entry worksheet