Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 350,000 shares of $9 par common stock and 35,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $25 per share. The following stock transactions pertain to Eastport Inc.:

1. Issued 16,000 shares of common stock for $14 per share.
2. Issued 12,000 shares of the class A preferred stock for $30 per share.
3. Issued 48,000 shares of common stock for $17 per share.

Required a. Prepare general journal entries for these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

Journal entry worksheet 2 3 Issued 16,000 shares of common stock for $14 per share Note: Enter debits before credits. Event General Journal Debit Credit Journal entry worksheet 2 3 Issued 12,000 shares of the class A preferred stock for $30 per share. Note: Enter debits before credits. Event General Journal Debit Credit 2 Journal entry worksheet 2 3 Issued 48,000 shares of common stock for $17 per share. Note: Enter debits before credits. Event General Journal Debit Credit 3