a. Issued 5,500 shares of common shares for cash at $35 per share. b. Issued 1,500 shares of common shares for cash at $38 per share. Required: 1. Show the effects of each transaction on the accounting equation. (Enter any decreases to Assets, Liabilities, or Stockholders" Equity with a minus sign.) 2. Prepare the journal entry required for each of these transactions. (If no entry is required for a transactionjevent, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the issue of 5,500 common shares for cash, at $35 per share. Record the transaction. Record the transaction. Note: Enter debits beiore credits. 4-a. Beamsley Corporation has $30,000 in the company's bank account. Should the company declare cash dividends at this time? Yes No 4-b. This part of the question is not part of your Connect assignment