NjA1ODY1 Stream Classwork People Oct-03 Sold 4,000 common shares at $32 per share. Question 2: TJ Inc. received its charter and began business in 2015. The company was authorized to issue 28,000 $5, noncumulative preferred shares, and 500,000 common shares. Prepare journal entries to record the following transactions that occurred during 2015 Mar-01 Sold 1,000 common shares for $45 per share, cash. May-06 Exchanged 3,000 preferred shares for equipment and inventory with a fair market value of $65,000 and $30,000 respectively Question 3 The following information and transactions took place during 2015: Mar-25 Declared a $6 per share cash dividend on 30,000 common shares issued and outstanding Apr-20 Paid the cash dividends declared on March 25. Dec-31 Preparing closing entries. The balance in the income summary is 865,000 credit. Prepare journal entries for the above transactions > o 186 ASUS VivoBook Screen D Home Debut End/Fin FO Busc FIT VZ 15 0 14 8 6 3/4 7 5 12