A - Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes A - Cell to issue 90,000 shares of 9%, $50 par value cumulative preferred stock and 110,000 shares of $3 par value common stock. During the first month, A - Cell completed the following transactions: i (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Oct. 2: Issued 22,000 shares of common stock for a building with a market value of $140,000. Accounts and Explanation Date Oct. 2 *** BARICET 4 Oct. 6: Issued 700 shares of preferred stock for $170 per share. Debit Credit

A - Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes A - Cell to issue 90,000 shares of 9%,$50 par value cumulative preferred stock and 110,000 shares of $3 par value common stock. During the first month, A - Cell completed the following transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Record the transactions in the general journal. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Oct. 2. Issued 22,000 shares of common stock for a building with a market value of $140,000. Oct. 6 : Issued 700 shares of preferred stock for $170 per share. Requirements 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of A - Cell's balance sheet at October 31, 2024. Assume A - Cell's net income for the month was $92,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) Oct. 2 Issued 22,000 shares of common stock for a building with a market value of $140,000. Oct. 6 Issued 700 shares of preferred stock for $170 per share. Oct. 9 Issued 10,000 shares of common stock for cash of $40,000. Oct. 10 Declared a $13,000 cash dividend for stockholders of record on Oct, 20 Use a separate Dividends Payable account for preferred and common stock. Oct. 25 Paid the cash dividend. Assume A - Cell's net income for the month was $92,000