The charter of oak tree corporation authorizes the insurance of 900 shares of preferred stock in 2600 shares of common stock. During a two month period, Oak tree completed the stock isurance transactions.

The charter of Oak Tree Corporation authorizes the issuance of 900 shares of prelerred stock and 2,600 shares of common stock. During a fwo-month period, Oak Troe completed these stack-issuance transactons: (1) (Click the loon to viow the transactions.) Read the requirements. Requirement 1. Record the transactions in the general joumal. (Record debats first, vien credis, Select the oxplanation on the last line of the joumal entry table.) Mar 23: Issued 270 shares of 53 par value common stock for cash of $13 per share. More info Mar. 23 Issued 270 shares of $3 par value common stock for cash of $13 per share. Apr. 12 Received inventory with a market value of $25,000 and equipment with a market value of $16,000 for 300 shares of the $3 par value common stock. Apr. 17 Issued 900 shares of 6%,$10 par value preferred stock for $10 per share. Requirementst 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of the Oak Tree balance sheet as of April 30, 2024, for the transactions given in this exercise. Retained Earnings has a balance of $78,000 at April 30, 2024