The partners who own Roberts Rafts Co. wished to avoid the unlimited personal liability of the partnership form of business, so they incorporated as Roberts Rafts, Inc. The charter from the state of Califormia authorizes the corporation to issue 180,000 shares of $12 par common stock. In its first month, Roberts Rafts, Inc, completed the following transactions (Click the icon to view the transactions.) Read the requirements CID Requirement 1. Record the transactions in the journal. (Recond debits first, then credits. Exclude explanations from any journal entries.) Jul 6: issued 500 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $13,000, Debit Organization Expense. Date 3 Journal Entry Accounts Debit Credit Jul 9: Issued 6,000 shares of common stock to Jenny Stke and 11,000 shares to Renee Roberts in return for cash equal to the stock's market value of $15 per share. The two women were partners in Roberts Rafts, Co. Jul Date D Journal Entry Accounts Debit Credit Time Remaining: 01:58:38 Next