Question 1 (25 points) Northstar Corp was authonzed to issue 500.000 $2.00 preferred shares and 550,000 common shares Duning December 2014 the first month of operations the flowing seeded transactions occurred a December 7 8,000 common shares were issued in exchange for land valued at $8,000 b. December 106,000 of the common shares were issued for a total of $60,000 cash c. December 18 Issued 10,000 common shares of $200 por share for cash d December 22 Gave the corporation's promotors 12.000 common shares for their services in organing the corporation The directors woed the services at $24 000 o December 24 5000 preferred shares and 6,000 common shares were issued at $3.00 and $100 respectively, cash f December 29 12,000 of the preferred shares were issued for a total of $36.000 cash a December 30 Issuod 9.000 preferred shares at $5.00 per share for 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 mm (Le January 15 would be 15/Jan)