Reissued 5,000 shares from treasury for $39 per share.
Prepare journal entries to record each transaction. (Ifno entry is required for a transaction/event, select “No JournalEntry Required” in the first account field.)
1. Record the issuance of 120,000 shares ofcommon stock with a $5 par value for a price of $45 per share.
Record the purchase of 15,000 shares of previously issued commonstock for a price of $40 per share.
Record the re-issuance of 5,000 shares of treasury stockpreviously purchased for a price of $40 per share and sold for $41per share.
Record the re-issuance of 5,000 shares of treasury stockpreviously purchased for $40 per share and sold for $39 pershare.
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