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Required information The following information applies to the questions displayed below. Global Marine obtained a...

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Required information The following information applies to the questions displayed below. Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, $5 par value. During the first year, the company earned $340,000 of net income, declared no dividends, and the following selected transactions occurred in the order given a. Issued 110,000 shares of the common stock at $49 cash per share. b. Reacquired 19,000 shares at $44 cash per share C. Reissued 7,000 shares from treasury for $45 per share. d. Reissued 7,000 shares from treasury for $43 per share. 2. Prepare journal entries to record each transaction. (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 Record the issuance of 110,000 shares of common stock with a $5 par value for a price of $49 per share. Note: Enter debits before credits. ransaction General Journal Debit Credit

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