Zone Stores is authorized to issue 18,000 shares of common stock. During a two-month period, Zone completed these stock transactions: (Click the icon to view the transactions.) Read the requirements Requirement 1. Journalize the transactions. Begin by journalize the transaction on May 23. (Record debits first, then credits. Exclude explanations from any journal entries.) Journal Entry Accounts Date Debit Credit May 23 Requirements * Data Table 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 $50,000 May July 23 Issued 2,000 shares of $2.50 par common stock for cash of $15.50 per share. 12 Received inventory with a market value of $18,000 and equipment with market value of $41,000 for 3.700 shares of the $2.50 par common stock