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Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 340,000...

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Accounting

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Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 340,000 shares of $8 par common stock and 30,000 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 18,000 shares of common stock for $13 per share. 2. Issued 7,000 shares of the class A preferred stock for $30 per share. 3. Issued 47,000 shares of common stock for $16 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 View transaction list Journal entry worksheet

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