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Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 430,000 shares of S9 par common stock and 65,000 shares of

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Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 430,000 shares of S9 par common stock and 65,000 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 21.000 shares of common stock for $14 per shore. 2. Issued 9,000 shares of the class A preferred stock for $30 per share. 3. Issued 49,000 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.) View transaction list Journal entry worksheet Issued 21,000 shares of common stock for $14 per share. Note: Enter debits before credits. Event General Journal Debit Credit 1 Record entry Clear entry View general Journal View transaction list Journal entry worksheet

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