D-Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes D-Cell to issue 70000 shares of 8% $50 par value cumulative preferred stock and 150000 shares of $1 par value common stock. During the first month D-cell completed the following transactions:

Requirement 1. Record the transactions in the general joumal. (Record debits first then credits. Select the explanation Oct. 2: Issued 22,000 shares of common stock for a building with a market value of $210,000. Oct. 6: Issued 550 shares of preferred stock for $70 per share. Oct. 9: Issued 15,000 shares of common stock for cash of $75,000. 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 October 31, 2024 Stockholders' Equity Paid-In Capital Requirement 1. Record the transactions in the general joumal. (Record debits first then credits. Select the explanation Oct. 2: Issued 22,000 shares of common stock for a building with a market value of $210,000. Oct. 6: Issued 550 shares of preferred stock for $70 per share. Oct. 9: Issued 15,000 shares of common stock for cash of $75,000. 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 October 31, 2024 Stockholders' Equity Paid-In Capital