The partners who own Sanders Rafts Inc. wished to avoid the unlimited personal liability of the partnership form of business, so they incorporated as Sanders Rafts, Inc. The charter from the state of Maine authorizes the corporation to issue 160,000 shares of 520 par common stock. In its first month, Sanders 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.) Mar 6: Issued 1,100 shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $28,600. Debit Organization Expense. Journal Entry Accounts Date Debit Credit Mar Mar 9: Issued 15,000 shares of common stock to Lucy Little and 18,000 shares to Sarah Sanders in return for cash equal to the stock's market value of $21 per share. The two women were partners in Sanders Rafts, Co. Journal Entry Date Accounts Debit Credit Mar 9 The partners who own Sanders Raits Inc wished to avoid the unlimited personal liability of the partnership form of business, so they incorporated as Sanders Rafts, Inc. The charter from the state of Maine authorizes the corporation to issue 160,000 shares of $20 par common stock. In its first month, Sanders Rafts, Inc., completed the following transactions: i (Click the icon to view the transactions.) Read the requirements Mar 26. Issued 900 shares of common stock for $24 cash per share Journal Entry Accounts Date Debit Mar 26 Requirement 2. Prepare the stockholders' equity section of the Sanders Rafts, Inc., balance sheet at March 31, 2019. The ending balance of Retained Earnings is $50.000. Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Sanders Rafts, Inc. Balance Sheet (partial) March 31, 2019 Stockholders' Equity: par shares shares Total paid-in capital Total stockholders' equity