Required information PA11-1 (Algo) Analyzing Accounting Equation Effects, Recording Journal Entries, and Preparing a Partial Balance Sheet Involving Stock Issuance and Purchase Transactions [LO 11-2] [The following information applies to the questions displayed below) Global Marine obtained a charter from the state in January that authorized 1,000,000 shares of common stock, S5 par. value. During the first year, the company earned $410,000 of net income and declared no dividends, the following selected transactions occurred in the order given a Issued 110.000 shares of the common stock at 556 cash per share b. Reacquired 26,000 shares at $51 cash per share. c Reissued 10,500 shares from treasury for $52 per share. d Reissued 10,500 shares from treasury for $50 per share, Required information Journal entry worksheet Record the issuance of 110,000 shares of common stock with a $5 par value for a price of $56 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit a Journal entry worksheet Record the purchase of 26,000 shares of previously issued common stock for a price of $51 per share. Note: Enter debits before credits. Transaction General Joumal Debit Credit b Journal entry worksheet Record the re-issuance of 10,500 shares of treasury stock previously purchased for a price of $51 per share and sold for $52 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit