Below are several transactions for Clarke Corporation. A junior accountant, recently employed by the company, proposes to record the following transactions.

Required: 1. Assess whether the proposed entries are correct or incorrect. 2. Provide a correct entry for each of the transactions classified as incorrect. Complete this question by entering your answers in the tabs below. Assess whether the proposed entries are correct or incorrect. rovide a correct entry for each of the transactions classified as incorrect. (If no entry is required to correct "No Journal Entry Required" in the first account field.) Journal entry worksheet Owners invest $11,500 in the company and receive common stock. Note: Enter debits before credits