Required: 1. Prepare the journal entries to record each of these transactions and to close the accounts. (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 Record sale and issue of 61,500 common shares at $8 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit a. Record entry Clear entry View general journal 2. This part of the question is not part of your Connect assignment. 3. Prepare the shareholders' equity section of the statement of financial position for King Corporation at the end of year 1. KING CORPORATION Shareholders' Equity As at End of Year 1 Share capital: Total shareholders' equity