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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 $380,000 of net income and declared no dividends; the following selected transactions occurred in the order given:

1. Issued 100,000 shares of the common stock at $53 cash per share.
2. Reacquired 23,000 shares at $48 cash per share.
3. Reissued 9,000 shares from treasury for $49 per share.
4. Reissued 9,000 shares from treasury for $47 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.)