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Required information [The following information applies to the questions displayed below.] Williamson Corporation was organized...

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Accounting

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Required information [The following information applies to the questions displayed below.] Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $8 par value, 93,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 65,000 shares of common stock for cash at $58 per share. b. Repurchased 11,000 shares from a stockholder for cash at $60 per share. Required: 1. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Sold 65,000 shares of common stock for cash at $58 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Required: 1. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet

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