C-Wireless Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes C-Wireless to issue 60,000 shares of 8%, $50 par value cumulative preferred stock and 110,000 shares of $2 par value common stock. During the first month, C- Wireless 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 17,000 shares of common stock for a building with a market value of $260,000, Date Accounts and Explanation Debit Credit i More Info Oct. 2 Oct. 2 Issued 17,000 shares of common stock for a building with a market value of $260,000. 6 Issued 800 shares of preferred stock for $120 per share. 9 Issued 13,000 shares of common stock for cash of $52,000 10 Declared a $12,000 cash dividend for stockholders of record on Oct. 20. Use a separate Dividends Payable account for preferred and common stock 25 Paid the cash dividend. i Requirements Print Done 1. Record the transactions in the general journal. 2. Prepare the stockholders' equity section of C-Wireless's balance sheet at October 31, 2018. Assume C-Wireless's net income for the month was $87,000. (Assume al temporary accounts have been closed prior to preparing the stockholders' equity section of the balance sheet.) Choose from ar 5 parts Clear All Chen Aner