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Eastport Inc. was organized on June 5, 2016. It was authorized to issue 470,000 shares...

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Accounting

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Eastport Inc. was organized on June 5, 2016. It was authorized to issue 470,000 shares of $11 par common stock and 65,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $25 per share. The following stock transactions pertain to Eastport Inc. 1. Issued 16,000 shares of common stock for $16 per share. 2. Issued 13,000 shares of the class A preferred stock for $30 per share. 3. Issued 57,000 shares of common stock for $19 per share. Required a. Prepare general journal entries for these transactions. (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 2 Issued 16,000 shares of common stock for $16 per share. Note: Enter debits DebitCredit Event General Journal

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