The partners who own Jefferson Rafis Co wished to avoid the unlimited personal lability of the parthership form of busibess, so bey hoorporated as Jefferson Rafts, Ine. The charter trom the state of Vermont authorizes the corporation to issce 200,000 shares of $15 par common sibck. In its first month, Jeflierson Rats, inc, completed the sollowing transectons (C) (Click the icon to view the transactons) Read the requicments. Requirement 1. Record the transactions in the joumal. (Record debils first, then credts. Exdiude explanations from any pumal entries) Jan 6: Issued 900 shares of commen stock to the promoter for assistance wah issuance of the conmon stock. The promotional foe was 527,000 . Debi Organiza6ion Expense. More info \begin{tabular}{ll} \hline Jan 6 & Issued 900 shares of common stock to the promoter for assistance with issuance of the \\ common stock. The promotional foe was $27,000 Debit Organizadion Expense \\ Jan 9 & Issued4,000sharesofcommonstocktoLinsdeyCrowand14,000sharestoJackieJeffersoninretumforcashequaltothestocksmarketvalueof$20pershare \\ The two women wore parthers in Jefferson Rats Co. \\ Tan 26 & Issued 1,600 shares of common stock for $25 cash per share. \end{tabular} Requirements 1. Record the transactions in the journal. 2. Prepare the stockholders' equity section of the Jefferson Rafts, Inc., balance sheet at March 31 , 2022. The ending balance of Retained Earnings is $55,000