3) Make the Journal Entries: a) GPO Ltd. needs to raise $100 million through issuance of stock. Suppose GPO's common stock had a par value of $0.05 and issued 10 million shares of stock at $10 per share. Account Debit Credit b) On July 22, 2014, GPO Ltd. resold 1 million shares of treasury stock for $55 per share. The average cost of treasury shares was $54.05, write down the journal entry to record the resale of treasury shares. Account Debit Credit c) On January 1, 2014, Delta Airlines issued $100,000 of 9%, five-year bonds when the market interest rate is 8%. The issue price is $104,100. Account Debit Credit