A - Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes A - Cell to issue 110,000 shares of 9%, $50 par value cumulative preferred stock and 130,000 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. Requirements - X 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 24,000 shares of common stock for a building with a market value of $100,000. Date Accounts and Explanation Debit Credit Oct. 2 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.) Print Done Oct. 2 W Oct. 6 Issued 24,000 shares of common stock for a building with a market value of $100,000. Issued 900 shares of preferred stock for $90 per share. Oct. 9 Issued 18,000 shares of common stock for cash of $90,000. Oct. 10 Declared a $21,000 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.