B - Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B - Mobile to issue 70,000 shares of 10%,$50 par value cumulative preferred stock and 150,000 shares of $3 par value common stock. During the first month, B - Mobile completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Oct. 2: Issued 23,000 shares of common stock for a building with a market value of $140,000. Oct. 6: Issued 700 shares of preferred stock for $160 per share. More info Oct. 2 Issued 23,000 shares of common stock for a building with a market value of $140,000. Oct. 6 Issued 700 shares of preferred stock for $160 per share. Oct. 9 Issued 15,000 shares of common stock for cash of $90,000. Oct. 10 Declared a $17,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock. Oct. 25 Paid the cash dividend. Requirements 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of B - Mobile's balance sheet at October 31, 2024. Assume B-Mobile's net income for the month was $93,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.)