D $-$ Cell Wireless needed additional capital to expand, so the business incorporated. The charter from the state of Georgia authorizes D$-$Cell to issue $110,000$ shares of $10\%,$$$50$ par value cumulative preferred stock and $180,000$ shares of $$5$ par value common stock. During the first month, D$-$Cell complefed 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 $21,000$ shares of common stock for a building with a market value of $$260,000.$