! Required Information [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, $6 par value, 95,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 57,000 shares of common stock for cash at $56 per share. b. Repurchased 7,000 shares from a stockholder for cash at $58 per share. 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 fleld.) View transaction list Journal entry worksheet 1 2 Sold 57,000 shares of common stock for cash at $56 per share. Note: Enter debits before credits. Transaction a. General Journal Debit Credit Record entry Clear entry View general journal