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 $490,000 of net income and the following selected transactions occurred in the order given:

a. Issued 100,000 shares of the common stock at $64 cash per share.

b. Reacquired 34,000 shares at $59 cash per share.

c. Reissued 14,500 shares from treasury for $60 per share.

d. Reissued 14,500 shares from treasury for $58 per share.

Journal Entires For:

a. Record the issuance of 100,000 shares of common stock with a $5 par value for a price of $64 per share

b. Record the purchase of 34,000 shares of previously issued common stock for a price of $59 per share.

c.Record the re-issuance of 14,500 shares of treasury stock previously purchased for a price of $59 per share and sold for $60 per share.

d. Record the re-issuance of 14,500 shares of treasury stock previously purchased for $59 per share and sold for $58 per share.