United Corporation began a very lucrative consulting operation on April 1, 2014. They are authorized to issue 500,000 shares of $5.00 cumulative preferred shares. They are also authorized to issue 700,000 common shares. a. April 3 : Issued 14,000 preferred shares at $4.18 per share for cash. b. April 7: 8,000 of the preferred shares were issued for a total of 535,200 cash. c. April 10: 12,000 common shares were issued in exchange for land valued at $36,000. d. April 16: Gave the corporation's promoters 10,000 common shares for their services in organizing the corporation. The directors valued the services at $17,000. e. April 25: 6,000 of the common shares were issued for a total of $40,200 cash. f. April 30: In addition to the declaration of the annual dividend on the preferred shares, dividends of S39,200 were declared on the common shares today. Prepare journal entries for the above transactions, entering the transaction letter as the explanation. Also, enter dates in the format dd/mmm (ie. 15/Jan). General Journal Account/Explanation Page Gj1 F Debit Credit Date + + +