The parthers who own Sanders Rafts Co. wished to avoid the Unimited personal labilty of the partnerstip form of business, so they incorporated as Sanders Ratts. Inc. The charter from the state of Nerada authorizes the corporation to iswe 100,000 shares of $2 par common stock. In ts frst month, Sonders Fafts, Inc, comploted the following transactions: (3) (Cick the icon to view the transactions) Read the reaviremects. Requirement 1. Record the transactions in the joumal. (Record debits first, then credits. Exclude explanations from any journal entries.) Oet 6: Issued 200 shares of common stock to the promoter for ass stance with issuance of the common stock. The promotonat fee was $5,200. Debit Organizason Expense. Oat 9: issued 12,000 shares of common stock to Wanda Waters and 17,000 shares to Sarah Sanders in retum for cash equal to the stock's market value of 527 per share. The two women were parthers in Sanders Rats, Co. The partners who own Sanders Rafts Co wished to avoid the unimined personal labaty of the parinershp form of business, so they incorporated as Sanders Rafts, Inc. The charter from the stase of Nevade authorizes the compotation to issue 100,000 shates of $2 par common stock in its frot month, Sanders fafts, hac, comploted the folowing transactions (i) (Cick the icon to view the transacions) Read the requiremects The partners who own Sanders Rafts Co. wished to avoid the unlimited personal liability of the partnership form of business, so they incorporated as Sanders Rafts, Inc. The chat Nevada authorizes the corporation to issue 100,000 shares of $2 par common stock. In its first month, Sanders Rafts, Inc. completed the following transactions: (Click the icon to view the transactions.) Road the regirements Journal Entry \begin{tabular}{l|l|l|} \hline Dequirements \\ Oot \\ Requirement \\ 1. Record the transactions in the journal. \\ 2. Prepare the stockholders' equity section of the Sanders Rafts, Inc., balance sheet at October \\ the ord \end{tabular} More info \begin{tabular}{ll} \hline Oct 6 & Issued 200 shares of common stock to the promoter for assistance with issuance of the \\ Oct 9 & Issued 12,000 shares of common stock to Wanda Waters and 17,000 shares to \\ & SarahSandersinreturnforcashequaltothestocksmarketvalueof$27pershare.ThetwowomenwerepartnersinSandersRaftsCo. \\ Oct 26 & Issued 1,500 shares of common stock for $5 cash per share. \end{tabular}