*** Please record Journal entries for a-d below ***

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 $360,000 of net income, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $51 cash per share. b. Reacquired 21,000 shares at $46 cash per share. c. Reissued 8,000 shares from treasury for $47 per share. d. Reissued 8,000 shares from treasury for $45 per share