Phoster Corporation established Skine Company as a wholly owned subsidiary. Phoster reported the following balance sheet amounts immediately before and after it transferred assets and accounts payable to Skine Company in exchange for 4,100 shares of $12 par value common stock: Required: a. \& b. Prepare the journal entry that Phoster recorded when it transferred the assets to Skine, and the entry that Skine recorded for the receipt of assets and issuance of common stock to Phoster. Note: If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Journal entry worksheet 2 Record the transfer of assets and accounts payable by Phoster Corporation to Skine Company. Note: Enter debits before credits. Journal entry worksheet Record the receipt of assets and accounts payable by Skine Company from Phoster Corporation. Note: Enter debits before credits