Earth Star Diamonds Inc. began a potentially lucrative mining operation on October 1, 2020. It is authorized to issue 10

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answerhappygod
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Earth Star Diamonds Inc. began a potentially lucrative mining operation on October 1, 2020. It is authorized to issue 10

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Earth Star Diamonds Inc. began a potentially lucrative miningoperation on October 1, 2020. It is authorized to issue 100,000shares of $0.60 cumulative preferred shares and 500,000 commonshares. The company uses the cash dividends account to keep trackof all dividends declared. Part ARequired:Prepare journal entries for each of the transactions listed.
Part BRequired:Based on the transactions in Part A, prepare the balance sheet asat October 31, 2020.
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