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shares of $$2$ par common stock. In its first month, Ameen Rafts, Inc., completed the following transactions:

$($Click the icon to view the transactions.$)$

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Requirement $1.$ Record the transactions in the journal. $($Record debits first, then credits. Exclude explanations from any journal entries.$)$

Jan $6$: Issued $500$ shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $$12,500.$ Debit Organization Expense.

Journal Entry

$\backslash$table$[[$Accounts$,$Debit,Credit$],[$Dan$,6,,],[,,,],[,,,],[,,,],[,,,]]$

$\backslash$table$[[$Journal Entry$],[$Date$,$Accounts,Debit,Credit$],[$Jan$,9,,],[,,,],[,,,],[,1,,]]$

Jan $26$: Issued $1,200$ shares of common stock for $$24$ cash per share.

$\backslash$table$[[$Journal Entry$],[$Date$,$Accounts,Debit,Credit$],[26,,,],[,,,],[,,,],[,,,]]$

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Jan $6$ Issued $500$ shares of common stock to the promoter for assistance with issuance of the common stock. The promotional fee was $$12,500.$ Debit Organization Expense. Issued $9,000$ shares of common stock to Jenny Stike and $20,000$ shares to Amy Ameen in return for cash equal to the stock's market value of $$5$ per share. The two women were partners in Ameen Rafts Co$.$ Issued $1,200$ shares of common stock for $$24$ cash per share.

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section of the balance sheet.$)$

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