Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock common stock, $18 par value, 12,400 shares authorized. During the year, the following selected transactions were completed: a. Sold 7,300 shares of common stock for cash at $36 per share, b. Sold 1,900 shares of common stock for cash at $41 per share. c. At year-end, the accounts reflected income of $7,900. No dividends were declared E11-5 Part 1 Required: 1. Prepare the journal entries required to record the sale of common stock in (a) and (b). (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 Sold 7,300 shares of common stock for cash at $36 per share. 21 MES