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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, $$5$ par value. During the first year, the company earned $$500,000$ of net income and declared no dividends; the following selected transactions occurred in the order given:

a$.$ Issued $110,000$ shares of the common stock at $$65$ cash per share.

b$.$ Reacquired $35,000$ shares at $$60$ cash per share.

c$.$ Reissued $15,000$ shares from treasury for $$61$ per share.

d$.$ Reissued $15,000$ shares from treasury for $$59$ 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.$)$

Journal entry worksheet

$1$

$2$

$3$

$4$

Record the issuance of $110,000$ shares of common stock with a $$5$ par value for a price of $$65$ per share.

Note: Enter debits before credits.

$\backslash$table$[[$Transaction$,$General Journal,Debit,Credit$],[$a$,$Cash,,$],[,$Common Stock,,$],[,$Additional Paid$-$In Capital, Common Stock,,$],[,,,],[,,,],[,,,]]$