Zone Stores is authorized to issue 11,000 shares of common stock. During a two-month period, Zone completed these stock transactions: E: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize the transactions - X Begin by journalize the transaction on January 23. (Record debits first, then credits. Exclude explanations from any journal entries.) Requirements Journal Entry Accounts Date Debit Credit Jan 23 Cash 37.500 1. Journalize the transactions. 2. Prepare the stockholders' equity section of Zone's balance sheet for the transactions. The company's Retained Earnings account has a balance of $46,000. Common Stock 10,000 Paid-in Capital in Excess of Par - Common 27,500 Print Done Next, journalize the transaction on February 12 Journal Entry Accounts Date Debit Credit Feb 12 Inventory Equipment Common Stock 19,000 47,000 11,600 Paid-in Capital in Excess of Par - Common 54,400 Requirement 2. Prepare the stockholders' equity section of Zone's balance sheet for the transactions. The company's Retained Earnings account has a balance of $46,000. (Enter the accounts in the proper order for the stockholders' equity section of the balance sheet.) Balance Sheet (Partial) Data Table Stockholders' Equity: Common stock, par 11,000 shares authorized, $ 4.00 issued and outstanding. 5,400 shares Jan Feb 23 Issued 2,500 shares of $4.00 par common stock for cash of $15.00 per share. 12 Received inventory with a market value of $19,000 and equipment with market value of $47,000 for 2.900 shares of the $4.00 par common stock Total paid-in capital Total stockholders' equity Print Done Choose from any list or enter any number in the input fields and then click Check Answer. ? All parts showing Clear All Check