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Aggie Corp. began operations on 1/1/15 and issued all of its preferred and common shares at that time. The following information pertains to Aggie Corp.

Aggie Corp. began operations on 1/1/15 and issued all of its preferred and common shares at that time. The following information pertains to Aggie Corp. for the year ended December 31, 2016 (i.e., year 2 of operations):

Balance Sheet (partial)

Preferred stock, 5% cumulative, $10 par $400,000
Additional paid-in capital - preferred 800,000
Common stock, $1 par 1,000,000
Additional paid-in capital - common 5,000,000
Treasury stock (50,000 shares) 400,000
Beginning Retained Earnings (1/1/16) 800,000

Additional Information

Net Income for 2016 $5,000,000
Dividends declared and paid on December 31, 2016 250,000

On 1/5/17, Aggie Corp. reissues 1,000 shares of Treasury Stock for a price of $5 per share. Aggie Corp. has never reissued shares of Treasury Stock before.

What journal entry should Aggie Corp. record for the reissuance? Please clearly label your debits and credits, as follows:

Debit: [account name] XXXX

Credit: [account name] XXXX

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