Required information 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 following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $60 cash per share (see par value above). b. Repurchase 30,000 shares of the company's own stock at $55 cash per share, the stock is now held in treasury. C. Reissued 12,500 shares from treasury for $56 per share. d. Reissued 12,500 shares from treasury for $54 per share. epare journal entries to record each transaction. View transaction list Journal entry worksheet 2 3 > Record the issuance of 120,000 shares of common stock with a $5 par value for a price of $60 per share. Note: Enter debits before credits. Transaction Debit Credit a General Journal Cash Common Stock Additional Paid-In Capital, Common Stock Record entry Clear entry View general journal Required information 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 following selected transactions occurred in the order given: a. Issued 120,000 shares of the common stock at $60 cash per share (see par value above). b. Repurchase 30,000 shares of the company's own stock at $55 cash per share, the stock is now held in treasury. C. Reissued 12,500 shares from treasury for $56 per share. d. Reissued 12,500 shares from treasury for $54 per share. Prepare journal entries to record each transaction. View transaction list Journal entry worksheet Record the repurchase of 30,000 shares of previously issued common stock for a price of $55 per share. Note: Enter debits before credits. General Journal Debit Credit Transaction b Treasury Stock Cash Record entry Clear entry View general journal Prepare journal entries to record each transaction. View transaction list Journal entry worksheet Record the reissuance of 12,500 shares of treasury stock previously purchased for a price of $55 per share and sold for $56 per share. Note: Enter debits before credits. Transaction Debit Credit General Journal Cash Treasury Stock Additional Paid-In Capital, Treasury Stock Record entry Clear entry View general journal View transaction list Journal entry worksheet 1 2 3 4 Record the reissuance of 12,500 shares of treasury stock previously purchased for $55 per share and sold for $54 per share. Note: Enter debits before credits. Debit Credit Transaction d General Journal Cash Additional Paid-In Capital, Common Stock Record entry Clear entry View general journal