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Eastport Inc was organized on June 5. Year 1. It was authorized to issue 300,000 shares of $10 par common stock and 50.000 shares of

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Eastport Inc was organized on June 5. Year 1. It was authorized to issue 300,000 shares of $10 par common stock and 50.000 shares of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $50 per share The following stock transactions pertain to Eastport Inc 1. Issued 15,000 shares of common stock for $12 per share. 2. Issued 5,000 shares of the class A preferred stock for $51 per share 3. Issued 60,000 shares of common stock for $15 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.)

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