VIP Corporation's first year of operations had the following transactions: 2020 Jan. 15 Issued 2, 8ee common shares to the corporation's promoters in exchange for their efforts in creating it. Their efforts are estimated to be worth $32,400. Feb. 2119,500 common shares were issued for cash of $14 per share. Mar. 96,600 preferred shares were issued for cash totalling $115,100. Aug. 1555 , ee0 common shares were issued in exchange for land, building, and equipment with appraised values of $324,000,$429,000, and $121, 600 , respectively. Journal entry worksheet Record the issue of common shares to promoters. Note: Enter debits before credits