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Journalize the treasury stock transactions

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Question - On January 1, 2019, the stockholders' equity section of Smily Corporation shows: Common stock ($5 par value) $1,500,000; paid-in capital in excess of par value $1,000,000; and retained earnings $1,200,000. During the year, the following treasury stock transactions occurred.

Mar. 1 Purchased 30,000 shares for cash at $20 per share.

July. 1 Sold 6,000 treasury shares for cash at $27 per share.

Sept. 1 Sold 5,000 treasury shares for cash at $9 per share.

Required - Journalize the treasury stock transactions.

Reference no: EM132566871

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