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 $340,000 of net income, declared no dividends, and the following selected transactions occurred in the order given:

1. Issued 110,000 shares of the common stock at $49 cash per share.
2. Reacquired 19,000 shares at $44 cash per share.
3. Reissued 7,000 shares from treasury for $45 per share.
4. Reissued 7,000 shares from treasury for $43 per share.

Make the journal entries