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Mediterranean Corporation engaged in the following share transactions in the first quarter of their fiscal year. May 19 Issued 8,000 common shares for cash of

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Mediterranean Corporation engaged in the following share transactions in the first quarter of their fiscal year. May 19 Issued 8,000 common shares for cash of $14.00 per share. Jun. 3 Sold 1,000 $4.00 Class A preferred shares for $18,000 cash to new investors. 11 Received inventory valued at $32,000 and vehicles with market value of $22,000 for 6.400 common shares. Jul 15 Issued 2,500 $5.00 Class B preferred shares for $15.00 per share. Required 1. Joumalize the transactions. Explanations are not required. 2. How much contributed capital did these transactions generate for Mediterranean Corporation? Accounts Cash Class A Preferred Shares Class B Preferred Shares D Common Shares Equipment Inventory Preferred Shares Vehicles any list or enter any number in the inn

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