The charter of Magnolia Corporation authorizes the issuance of 900 shares of preferred stock and 1 comma 000 shares of common stock. During a two-month period, Magnolia completed these stock-issuance transactions: LOADING...(Click the icon to view the transactions.) Read the requirementsLOADING.... Question content area bottom Part 1 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.) Mar. 23: Issued 200 shares of $1 par value common stock for cash of $ 18 per share. Date Accounts and Explanation Debit Credit Mar. 23