Edsel corporation was formed in late 2018. The articles of incorporation authorize 1,000,000 shares of common stock carrying a $1 par value

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1. On January 1, 2019, 350,000 shares of common stock were issued for $18 per share. Record this transaction. (4 points)

Account Name	Debit	Credit

During March 2019, Edsel repurchased 40,000 common shares for the treasury at a price of $11 per share. During August 2019, all 40,000 treasury shares are reissued at $13 per share. Record these 2 transactions in the journal below. (8 points)

Account Name	Debit	Credit