Vision Consulting Inc. began a very lucrative consulting operation on October 1, 2014. They are authorized to issue 500,000 shares of $1.00 cumulative preferred shares. They are also authorized to issue 700,000 common shares. a. October 4 : 12,000 common shares were issued in exchange for land valued at $24,000. b. October 5: 9,000 of the common shares were issued for a total of $45,000 cash. c. October 11 : 13,000 of the preferred shares were issued for a total of $45,500 cash. d. October 16: Issued 11,000 preferred shares at $2.69 per share for cash. e. October 29: Gave the corporation's promoters 7,000 common shares for their services in organizing the corporation. The directors valued the services at $22,000. f. October 31: In addition to the declaration of the annual dividend on the preferred shares, dividends of $16,800 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 +- + . 1 T +