2 of 3 Required information PA11-1 (Algo) Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [LO 11-2) [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 $300,000 of net income and declared no dividends, the following selected transactions occurred in the order given ts [eBook Print a Issued 120,000 shares of the common stock at $45 cash per share b Reacquired 15.000 shares at $40 cash per share. c Reissued 5,000 shares from treasury for $41 per share d Reissued 5,000 shares from treasury for $39 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 2 3 4 > Record the issuance of 120,000 shares of common stock with a $5 par value for a price of $45 per share. Note: Enter debts before credits Transaction General Journal Debit Credit Required information Journal entry worksheet Record the purchase of 15,000 shares of previously issued common stock for a price $40 per share Tema Det Oy o ! 4 ' 5 6 7 8 9 T T Y R. F LUL o P G H J