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Business, 04.04.2020 02:05 marwaalsaidi

Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 320,000 shares of $11 par common stock and 30,000 shares of 4 percent cumulative class A preferred stock. The class A stock had a stated value of $30 per share. The following stock transactions pertain to Eastport Inc.: Issued 20,000 shares of common stock for $16 per share. Issued 13,000 shares of the class A preferred stock for $35 per share. Issued 52,000 shares of common stock for $19 per share. Prepare general journal entries for these transactions.

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Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 320,000 shares of $11 par...
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