E11-7 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7 Williamson Corporation's Board authorized 87,000 shares of common stock with $4 par value. During the first year, Williamson: a. Sold 58,000 shares of common stock for cash at $40 per share. b. Repurchased 3,000 shares at $42 per share. E11-7 Part 1 Required: 1. Prepare the journal entry required for each of these transactions. Note: 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 1 2 Sold 58,000 shares of common stock for cash at $40 per share.. Note: Enter debits before credits Transaction General Journali Debit Credit E11-7 Part 1 Required: 1. Prepare the journal entry required for each of these transactions. Note: 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 > 1 2 Repurchased 3,000 shares at $42 per share. Note: Enter debits before credits Transaction b. General Journal Debit Credit Record entry Clear entry View general journal