On January $5,2020,$ Coronado Corporation received a charter granting the right to issue $5,400$ shares of $$100$ par value, $7\%$ cumulative and nonparticipating preferred stock, and $46,800$ shares of $$10$ par value common stock. It then completed these transactions.

Jan. $11$ Issued $19,700$ shares of common stock at $$16$ per share.

Feb. $1$ Issued to Sanchez Corp. $3,800$ shares of preferred stock for the following assets: equipment with a fair value of $$46,000$; a factory building with a fair value of $$160,000$; and land with an appraised value of $$247,000.$

July $29$ Purchased $1,700$ shares of common stock at $$16$ per share. $($Use cost method.$)$

Aug. $10$ Sold the $1,700$ treasury shares at $$15$ per share.

Dec. $31$ Declared a $$0\mathrm{.}40$ per share cash dividend on the common stock and declared the preferred dividend.

Dec. $31$ Closed the Income Summary account. There was a $$168,200$ net income. $($a$)$ Record the Journal entries for the transactions listed above