[The following information applies to the questions displayed below.]

Tarrant Corporation was organized this year to operate a financial consulting business. The charter authorized the following stock: common stock, par value $15 per share, 12,000 shares authorized. During the year, the following selected transactions were completed:

a.	Sold and issued 7,400 shares of common stock for cash at $30 per share.
b.	Sold and issued 2,500 shares of common stock for cash at $35 per share.
c.	At year-end, the accounts reflected income of $7,100. No dividends were declared.

Requirec 1. Prepare the jourmal 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 Sold 7,400 shares of common stock for cash at s30 per share. Note: Enter debits before credits. Transaction General Journal DebitCredit Record entry Clear entry View general journal