Burgers & More, Inc. is authorized to issue an unlimited number of common shares and 10,000 preferred shares. During its first year, the business completed the following share issuance transactions July 19 Issued 20.000 common shares for cash of $8.00 per share Oct 3 Issued 1,000 $2.25 preferred shares for $100,000 cash 11 Received inventory valued at $19,000 and equipment with fair value of $13,000 for 3,400 common shares Required 1. Journalize the transactions. Explanations are not required. 2. Prepare the shareholders' equity section of Burgers & More's balance sheet The ending balance of Retained Earnings is a deficit of $46,000. Requirement 1. Journalize the transactions. Explanations are not required (Record debits first, then credits. Explanations are not required.) Begin by journalizing the July 19 issue of common shares. Issued 20,000 common shares for cash of $8.00 per share, Journal Entry Date Accounts Debit Credit July 19 Next, journalize the October 3rd transaction Issued 1,000 $2.25 preferred shares for $100,000 cash. Journal Entry Debit Credit Date Accounts ne continue to the next question Next, journalize the October 3rd transaction Issued 1,000 $2 25 preferred shares for $100,000 cash Journal Entry Date Accounts Debit Credit Oct 3 Finally, journalzie the October 11th transaction. Received inventory valued at $19,000 and equipment with fair value of $13,000 for 3,400 common shares Journal Entry Date Accounts Debit Credit Oct 11 Choose from any list or enter any number in the input fields and then continue to the next question. Requirement 2. Prepare the shareholders' equity section of Burgers & More's balance sheet. The ending balance of Retained Earnings is a deficit of $46,000. (Use a minus sign or parenthesis for deficit amounts.) Shareholders' Equity Shareholders' equity Total shareholders' equity in the innut fields and then continue to the next