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shares of $ 2 par common stock. In its first month, Ameen Rafts, Inc., completed the following transactions: ( Click the icon to view the

shares of $2 par common stock. In its first month, Ameen Rafts, Inc., completed the following transactions:
(Click the icon to view the transactions.)
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Requirement 1. Record the transactions in the journal. (Record debits first, then credits. Exclude explanations from any journal entries.)
Jan 6: Issued 500 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $12,500. Debit Organization Expense.
Journal Entry
\table[[Accounts,Debit,Credit],[Dan,6,,],[,,,],[,,,],[,,,],[,,,]]
\table[[Journal Entry],[Date,Accounts,Debit,Credit],[Jan,9,,],[,,,],[,,,],[,1,,]]
Jan 26: Issued 1,200 shares of common stock for $24 cash per share.
\table[[Journal Entry],[Date,Accounts,Debit,Credit],[26,,,],[,,,],[,,,],[,,,]]
More info
Jan 6 Issued 500 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $12,500. Debit Organization Expense. Issued 9,000 shares of common stock to Jenny Stike and 20,000 shares to Amy Ameen in return for cash equal to the stock's market value of $5 per share. The two women were partners in Ameen Rafts Co. Issued 1,200 shares of common stock for $24 cash per share.
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section of the balance sheet.)
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