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 $390,000 of net income, declared no dividends, and the following selected transactions occurred in the order given a. Issued 120,000 shares of the common stock at $54 cash per share. b. Reacquired 24,000 shares at $19 cash per share. c. Reissued 9,500 shares from treasury for $50 per share d. Reissued 9,500 shares from treasury for $48 per share. 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.) ces View transaction list Journal entry worksheet Record the issuance of 120,000 shares of common stock with a ss par value for a price of $54 per share. Note: Enter debits before credits Transaction General Journal Debit Credit