The partners who own Cohen Ra9s Co. wished to avoid the unlimited personal labilty of the partnership form or business, so they incorporased as Cohen Rafts, Inc. The charter from the stace of Maine authorizes the corporation to issue 110,000 shares of \$4 par common stock. In its frst month, Cohen Rafts, Ine, completed the following transactions? (C) (Cick the licon to view the transactions) Read the requirements Jan 26 issued 1,500 shares of common slock for $18 eash per share. The parthers who own Cohen Rafts Co. Wished to awoid the unlimited personal liablity of the partnership form of business, so they incorporated as Cohen Rafts, Inc. The charter tfom the state of Maine authorizes the corporation to issue 110,000 shares of $4 par common stock. In its first month, Cohen Rarts, Ine, completod the following transactions. (Cick the icon to viow the transactions.) Read the requirements Requirement 1. Recoed the transactions in the joumal. (Record debits first, then creden. Exclude explanutions from any joumal entries.) Jan 6: Issued 400 shares of common stock to the promoter for assistance wth iswance of the common stock. The promotional foe was $11, E00 Debit Organization Expense. Jan 9 iswed 7,000 shares of common stock to Jula Jackson and 17,000 shares to Cara Cohen in retum for fash equal to the stocks market value of 527 per ahare. The two women were parthens in Cohen Rafts, Co. Jan 26. issued 1,500 shares of common stock for $18 cash per share Requirement 2. Prepase the stockhoiders' equity section of the Cohen Rafs, inc., balance sheet at Janwary 31, 2022. The ending balance of Rotained Eamings is $00.000. (Enter the accounts in the proper order for the slockholders' equity section of the balance sheet