Required information E11-7 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7 [The following information applies to the questions displayed below.) Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $10 par value, 84,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 52,000 shares of common stock for cash at $52 per share. b. Repurchased 3,000 shares from a stockholder for cash at $54 per share. E11-7 Part 1 Required: 1. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet | 12 Sold 52,000 shares of common stock for cash at $52 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Required information E11-7 (Algo) Reporting Stockholders' Equity LO11-1, 11-3, 11-7 The following information applies to the questions displayed below.) Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $10 par value, 84,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 52,000 shares of common stock for cash at $52 per share. b. Repurchased 3,000 shares from a stockholder for cash at $54 per share. E11-7 Part 1 Required: 1. Prepare the journal entry required for each of these transactions. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet