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 $65,000 and declared no dividends; the following selected transactions occurred in the order given: a. Issued 270,000 shares of the common stock at $30 cash per share. b. Reacquired 5,700 shares at $31 cash per share to use as stock incentives for senior management. Prepare journal entries to record each transaction. (If no entry is required for a transaction/event, select "No Journal Entry equired" In the first account fleld.) Journal entry worksheet Record the issuance of 270,000 shares of common stock with a $1 par value for a price of $30 per share. Note: Enter debits before credits