-BACC 200 Fall 2022 - Section - OND Saved Fast Cars Inc. was authorized to issue 50,000 $1.50 preferred shares and 300,000 common shares. During 2023, its first year of operations, the following selected transactions occurred: Jan. 15,600 of the preferred shares were issued at $12.00 per share; cash. Feb. 5 15,000 of the common shares were issued for a total of $132,000; cash. Mar. 20 3,000 of the common shares were given to the organizers of the corporation regarding their efforts. The shares were valued at a total of $29,400. May 15 12,600 preferred shares and 23,000 common shares were issued at $13.20 and $9.60 respectively; cash. Dec. 31 The Incone Summary account was closed; it showed a debit balance of $335,000. December 31 is Fast Car's year-end. Required: a. Journalize the above transactions. View transaction list Journal entry worksheet 2 3 Record the issue of preferred shares. 5 Note: Enter debits before credits. Date January 01, 2023 General Journal Debit Credit Help