Question: Question 2 (7 points) During 2021 Maynard Inc. had the following selected transactions: April 1 Issued 50,000 common shares for total cash of $210,000 May

Question 2 (7 points) During 2021 Maynard Inc. had the following selected transactions: April 1 Issued 50,000 common shares for total cash of $210,000 May 31 The company declared a cash dividend of $80,000 total for preferred shares and $50,000 total for common shares, payable on June 15 to the June 5 shareholders of record, June 15 Paid the dividends declared on May 31 Required: Record the journal entries for the above transactions

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