Required Information [The following information applies to the questions displayed below.] Whyville Corporation obtained its charter from the state in January that authorized 500,000 shares of common stock, $1 par value. During the first year, the company earned $49,000, declared no dividends, and the following selected transactions occurred in the order given: a. Issued 110,000 shares of the common stock at $14 cash per share. b. Reacquired 4,100 shares at $15 cash per share to use as stock Incentives for senior management 2. 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.) View transaction list Journal entry worksheet Record the issuance of 110,000 shares of common stock with a $1 par value for a price of $14 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal