Eastport Incorporated was organized on June 5, Year 1. It was authorized to issue 420,000 shares of $10 par common stock and 70,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $20 per share. The following stock transactions pertain to Eastport Incorporated:

1. Issued 17,000 shares of common stock for $15 per share.
2. Issued 7,000 shares of the class A preferred stock for $25 per share.
3. Issued 48,000 shares of common stock for $18 per share.

Required a. Prepare general journal entries for these transactions. b. Prepare the stockholders' equity section of the balance sheet immediately after these transactions.

Required A Required B 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 (090 > Issued 48,000 shares of common stock for $18 per share. Record the transaction. Note: Enter debits before credits. Required A Required B 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 A B C Issued 17,000 shares of common stock for $15 per share. Record the transaction. Note: Enter debits before credits. Event General Journal Debit Credit 1 Cash 255,000 Common stock 170,000Required A Required B 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 7,000 shares of the class A preferred stock for $25 per share. Record the transaction. Note: Enter debits before credits. Common stock Complete this question by entering your answers in the tabs below. Required A Required B Prepare the stockholders' equity section of the balance sheet immediately after these transactions. Siockholders' equity Total stockholders' equity $ 0