Zip Tech Inc. was started on June 1, 2020. It is authorized to issue an unlimited number of $4 cumulative preferred shares and an unlimited number of common shares. The following share transactions were completed during the company's first year of operations: June 1, 2020 - Issued 80,000 common shares for $4 per share. August 25, 2020 - Issued 5,000 preferred shares for $100 per share. September 15, 2020 - Issued 22,000 common shares in exchange for land. The fair value of the land was $95,000. The common shares were trading for $4.25 per share on this date. November 20, 2020 - Issued 78,000 common shares for $4.50 per share. April 16, 2021 - Issued 2,000 preferred shares for $100 per share. May 15, 2021 - Declared a preferred cash dividend to the preferred shareholders of record on May 1, 2021, payable on June 10. No dividend was declared on the common shares. Required: Drag and drop to record the above transactions for the year ended May 31, 2021. Note: there may be unused responses when the question is complete. Date June 1 Account August 25 September 15 November 20 April 16 May 15 DEBIT CREDIT Dividends payable Land Common shares Accounts receivable Retained earnings Preferred shares Accounts payable Contributed surplus Cash 351,000 8,000 93,500 20,000 200,000 || 95,000 78,000 50,000 80,000 500,000 28,000 320,000