Exercise 11-9A Recording and reporting common and preferred stock transactions LO 11-4 Eastport Inc. was organized on June 5, Year 1, it was authorized to issue 450,000 shares of $8 par common stock and 40,000 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 Inc: 1. Issued 16,000 shares of common stock for $13 per share. 2. Issued 9,000 shares of the class A preferred stock for $25 per share. 3. Issued 50,000 shares of common stock for $16 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 1 2 3 > Issued 16,000 shares of common stock for $13 per share. Note Enter debits before credito Event General Journal Dobit Credit