Don't use chatGTP/AI bot other wise down vote, provide the correct Answer with explanation and narration. Correct Journal entries.

The following shareholders' equity accounts are reported by Blossom Inc. on January 1: Common shares (unlimited authorized, 168,000 issued) $2,688,000 Preferred shares ($4 cumulative, convertible, 100,000 authorized, 6,200 issued) 465,000 Contributed surplusireacquisition of common shares 32,400 Retained earnings 1,272,000 The following selected transactions occurred during the yea r: Feb. 11 Issued 56,000 common shares at $20 per share. Mar. 2 Reacquired 20,700 common shares at $22 per share. June 14 Split the common shares 2 for 1 when the common shares were trading at $30 per share. July 25 Reacquired 500 preferred shares at $70 per share. Sept. 16 Reacquired 56,000 common shares for $17 per share. Oct. 27 Declared a 5% common stock dividend distributable on December 13 to shareholders of record on November 24. The fair value of the common shares on October 27 was $19 per share. Distributed the stock dividend declared on October 27. The fair value of the common shares on December 13 was Dec. 13 $21 per share. Prepare journal entries for the transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. Record journal entries in the order presented in the problem. Round average per share to 2 decimal places, e.g. 15.25 and final answers to O decimal places, e.g. 5,276. List all debit entries before credit entries.) Date Account Titles Debit Credit V