The partners who own Joy Rafts Co. wished to avoid the unlimited personal liability of the partnership form of business, so they incorporated as Joy Rafts, Inc. The charter from the state of Utah authorizes the corporation to issue 130,000 shares of $12 par common stock. In its first month, Joy Rafts, Inc., completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the journal. (Record debits first, then credits. Exclude explanations from any journal entries.) Oct 6: Issued 100 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $2,300. Debit Organization Expense. Oct 9: Issued 7,000 shares of common stock to Anna Bergen and 18,000 shares to Julie Joy in return for cash equal to the stock's market value of $27 per share. The two women were partners in Joy Rafts, Co. Oct 26: Issued 1,200 shares of common stock for $18 cash per share. Requirement 2. Prepare the stockholders' equity section of the Joy Rafts, Inc., balance sheet at October 31, 2022. The ending balance of Retained Earnings is $95,000. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) More info \begin{tabular}{ll} \hline Oct 6 & Issued 100 shares of common stock to the promoter for assistance with issuance of the \\ Oct 9 & common stock. The promotional fee was $2,300. Debit Organization Expense. Issued 7,000 shares of common stock to Anna Bergen and 18,000 shares to Julie Joy in return for cash equal to the stock's market value of $27 per share. The two women were partners in Joy Rafts Co. \\ Oct 26 & Issued 1,200 shares of common stock for $18 cash per share. \\ \hline \end{tabular} Requirements 1. Record the transactions in the journal. 2. Prepare the stockholders' equity section of the Joy Rafts, Inc., balance sheet at October 31 , 2022. The ending balance of Retained Earnings is $95,000