D-Mobile Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes D-Mobile to issue 50.000 shares of 8% $50 par value cumulative pretemed stock and 160.000 shares of 54 par value common stock. During the first month, D-Mobile completed the following transactions (Click the icon to view the transactions) Read the requirements Paid-In Capital in Excess of Par-old Issued preferred stock for cash Oct. 9 issued 11,000 shares of common stock for cash of $55.000 Date Accounts and Explanation Oct. 9 Cash Common Stock-14 Par Value 54,000 Debit Credit 55.000 44.000 11.000 Paid-Capital in Excess of Par-Common sued common stock for cash Oct. 10: Declared a $10.000 cash dividend for stockhunders of record on Oct. 20. Use a separate Dividents Payable account for prefered and common stock Date Accounts and Explanation Oct 10 Preferred Stock-550 Par Vave Declared cash dividend Help me solve this Demodocs example Get more help. Debit Credi Clear all Check answer