B-Mobile Wines needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes B-Mobile to issue 110,000 shares of 8%, $50 par value cumulative preferred stock and 180,000 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 geurements Requirement 1. Record the transactions in the general journal Recond debits first, then credits. Select the explanation on the last line of the journal entry tale.) Oct 2: Insued 25,000 shares of common stock for a building with a market value of $130,000 Date Accounts and Explanation Debil Credit More Info Bulding Common Stock-$3 Par Value Paid-In Capital in Excess of Par-Common Issued common stock for building. Oct. 6: Issued 900 shares of preferred stock for $70 per share Date Accounts and Explanation Oct. 2 Oct. 6 25,000 shares of common stock for a building with a market value of $130,000 Issued 500 shares of preferred stock for $70 per share Oct. 9 14,000 shares of common stock for cash of $84,000. Oct. 10 Declared a $21,000 cash dividend for stockholders of record on Oct. 20. Use a s Dividends Payable account for preferred and common stock. Debit Credit Oct. 25 Paid the cash dividend Oct. Cash Prefered Stock-550 Par Value Padin Capital in Excess of ParPretend issued preferred stock for cash Choose from any 1st or enter any number in the input fields and then continue to the next question Assume B-Mobile's net income for the month was $96.000 Requirements 1. Record the transactions in the general joumal 2. Prepare the stockholders' equity section of B-Mobile's balance sheet at Odober 31, 2018. Assume B-Mobile's net income for the month was $96.000 (Assume al temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet)