B-Wireless Wireless needed additional capital to expand, so the business incorporated The charter from the state of Georgia authorizes B-Wireless to issue 120,000 shares of 8% $50 par value cumulative preferred stock and 170.000 shares of $4 par value common stock. During the first month, B-Wireless completed the following transactions Click the icon to view the transactions.) Read the requirements Ge 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 17.000 shares of common stock for a building with a market value of $260,000 Date Accounts and Explanation Debit Credit Oct 2 Oct. 2 Oct. 6 Oct. 9 Issued 17,000 shares of common stock for a building with a market value of $260,000 Issued 500 shares of preferred stock for $90 per share Issued 16,000 shares of common stock for cash of $96,000 Declared a $13,000 cash dividend for stockholders of record on Oct 20. Use a separate Dividends Payable account for preferred and common stock Paid the cash dividend Oct. 10 Oct. 25 Assume B - Wireless's net income for the month was $97,000 Requirements e tra es g 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of B-Wireless's balance sheet at October 31, 2024. Assume B-Wireless's net income for the month was $97,000. (Assume all temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.)