Business, 18.08.2020 23:01 abby4902

On April 2 a corporation purchased for cash 7,000 shares of its own $10 par common stock at $28 a share. It sold 4,000 of the treasury shares at $31 a share on June 10. The remaining 3,000 shares were sold on November 10 for $24 a share. Required:
a. Journalize the entries to record the purchase (treasury stock is recorded at cost).
b. Journalize the entries to record the sale of the stock.

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On April 2 a corporation purchased for cash 7,000 shares of its own $10 par common stock at $28 a sh...