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Novak Inc. has outstanding 10,500 shares of $10 par value common stock. On July 1, 2020, Novak reacquired 104 shares at $87 per share. On
Novak Inc. has outstanding 10,500 shares of $10 par value common stock. On July 1, 2020, Novak reacquired 104 shares at $87 per share. On September 1, Novak reissued 63 shares at $90 per share. On November 1, Novak reissued 41 shares at $83 per share. Prepare Novak's journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit 11/1/20
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