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ABC Inc. was authorized to issue 500,000$2.00 preferred shares and 650,000 common shares. During January 2014, their first month of operations, the following selected transactions occurred: a. January 9 : Issued 8,000 preferred shares at $4.00 per share for cash. b. January 12 6,000 of the common shares were issued for a total of $42,000 cash. c. January 12 : Issued 14,000 common shares at $5.50 per share for cash. d. January 18 : Gave the corporation's promoters 9,000 common shares for their services in organizing the corporation. The directors valued the services at $27,000. e. January 18 : 9,000 preferred shares and 13,000 common shares were issued at $5 00 and $3.00, respectively; cash. f. January 19 9,000 common shares were issued in exchange for land valued at $18,000. g. January 21 : 7,000 of the preferred shares were issued for a total of $70,000 cash. Prepare journal entries for the above transactions. Enter the transaction letter as the description when entering the transactions in the journal. Dates must be entered in the format dd/mmm (i.e., January 15 would be 15/Jan). Date enera Journa Account/Explanation age G t Debit Credit