B-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B-Cell to issue 60,000 shares of 5%, $50 par value cumulative preferred stock and 170,000 shares of $1 par value common stock. During the first (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 joumal entry table.) Oct. 2: Issued 23,000 shares of common stock for a building with a market value of $130,000 Date Accounts and Explanation Debit Credit Oct. 2 More Info Requirements Oct. 2 Oct. 6 Oct. 9 Issued 23,000 shares of common stock for a building with a market value of $130,000. Issued 650 shares of preferred stock for $100 per share. Issued 15,000 shares of common stock for cash of $75,000 Declared a $13,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock Paid the cash dividend. 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of B-Cell's balance sheet at October 31, 2018. Assume B-cell's net income for the month was $97,000 (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) Oct. 10 Oct. 25 Print Done Assume B-cell's net income for the month was $97,000. Print Done