5. On May 21, 2020 Orikum Corp. decides to issue 10000 common stocks at par value $2 each. One week later stocks were sold and the corporation collected $40,000. a. Make required journal entry/entries for May 21 and May 28 b. On May 21 Orikum's balance sheet had following items. Prepare balance sheet after the issuance of new stocks on May 28. Cash: $3,000; Accounts Receivable: $20,000; Inventory:$7,000; Prepaid Insurance: $4,000; Equipment:$10,000; Allowance for Doubtful Accounts: $2,000; Accumulated Depreciation: $1,000; Accounts Payable: $11,000; Instalment Notes Payable: $5,000; Salaries Payable: $4,000; Interest Payable: $3,000; Unearned Revenue: $8,000 Capital Stock: $10,000. ORIKUM CORP.BALANCE SHEET ON MAY 31 ASSETS LIABILITIES AND OWNERS EQUITY Total Assets: Total Liab, and Equity: 5