Required information

$[$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, $$5$ par

value. During the first year, the company earned $$400,000$ of net income and declared no dividends; the following

selected transactions occurred in the order given:

a$.$ Issued $100,000$ shares of the common stock at $$55$ cash per share.

b$.$ Reacquired $25,000$ shares at $$50$ cash per share.

c$.$ Reissued $10,000$ shares from treasury for $$51$ per share.

d$.$ Reissued $10,000$ shares from treasury for $$49$ per share.

Prepare journal entries to record each transaction. $($If no entry is required for a transaction$/$event$,$ select $"$No Journal Entry

Required" in the first account field.$)$

Journal entry worksheet

$1,2,3,4$

Record the issuance of $100,000$ shares of common stock with a $$5$ par value

for a price of $$55$ per share.

Note: Enter debits before credits.