C$-$Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C$-$Mobile to issue $120,000$ shares of $9\%,$$$150$ par value cumulative preferred stock and $140,000$ shares of $$3$ par value common stock. During the first month, $C-$ Mobile completed the following transactions:

$($i$)($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 $18,000$ shares of common stock for a building with a market value of $$260,000.$

$\backslash$table$[[$Date$,$Accounts and Explanation,Debit,Credit$],[$Oct$.2],[,,,],[,,,],[,,,],[,,,]]$