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On January 1, 2019, the stockholders' equity section of Smiley Corporation shows: common stock ($5 par...

On January 1, 2019, the stockholders' equity section of Smiley 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.

Requirements:

Journalize the treasury stock transactions.

Business   Accounting   
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The answer has been presented in the supporting sheet. For detailed answer refer to the supporting sheet.

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