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Journalize the treasury stock transactions

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Question - On January 1, 2020, the stockholders' equity section of Ayayai Corporation shows common stock ($5 par value) $1,500,000; paid-in capital in excess of par $1,020,000; and retained earnings $1,200,000. During the year, the following treasury stock transactions occurred.

Mar.1 Purchased 51,000 shares for cash at $15 per share.

July 1 Sold 11,000 treasury shares for cash at $17 per share.

Sept. 1 Sold 10,000 treasury shares for cash at $14 per share.

Required - Journalize the treasury stock transactions.

Reference no: EM132604679

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