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urgent please Required information [The following information applies to the questions displayed below.] Global Marine obtained a charter from the state in January that authorized
urgent please
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 yeat, the company earned $320,000 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 $47 cash per share. b. Reacquired 17,000 shares at $42 cash per share. c. Reissued 6,000 shares from treasury for $43 per share. d. Reissued 6.000 shares from treasury for $41 per share. 2. Prepare journal entries to record each Iransaction. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) Journal entry worksheet Aecord the issuance of 100,000 shares of common stoek with a $5 par value for a price of 547 per share. Mote: Enter debors befiqe credits Step by Step Solution
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