Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 420,000 shares of $11 par common stock and 70,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $30 per share. The following stock transactions pertain to Eastport Inc. 1. Issued 24.000 shares of common stock for $16 per share 2. Issued 8,000 shares of the class A preferred stock for $35 per share. 3. Issued 56,000 shares of common stock for $19 per share. Required o. 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.) View transaction list Journal entry worksheet 2 3 Issued 24,000 shares of common stock for $16 per share. Note: Enter debits before creditu Event General Journal Debit Credit Record entry Clear entry View general Journal Eastport Inc was organized on June 5. Year 1. It was authorized to issue 420,000 shares of $11 par common stock and 70,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $30 per share. The following stock transactions pertain to Eastport ine. 1. Issued 24 000 shares of common stock for $16 per share. 2 Issued 8,000 shares of the class A preferred stock for $35 per share. 3. Issued 56,000 shares of common stock for $19 per share. Required o. 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.) View transaction list Journal entry worksheet 1 3 Record the declaration of dividends. Note: Enter debits before credits General Journal Debit Credit Date Mar 08 Record entry Clear entry View general journal b. Prepare the journal entries required for these transactions. (Be sure to include the dates of the entries.) (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the dividends payable to the shareholders on record, Note: Enter debits before credits Date General Journal Debit Credit Mar 20 Record entry Clear entry View general Journal b. Prepare the journal entries required for these transactions (Be sure to include the dates of the entries) (if no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the payment of dividends. Note: Enter debits before credits General Journal Debit Credit Date Mar 31 Record entry Clear entry View general Journal b. Prepare the Journal entries required for these transactions. (Be sure to include the dates of the entries) (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
