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A company has $10,000 shares of $10 par common stock outstanding.  Prepare the entries to record the...

A company has $10,000 shares of $10 par common stock outstanding.  Prepare the entries to record the following:

March 1  Purchased 1000 shares of treasury stock at $12 per share.  There were no previous purchases of treasury stock.

June 1     Sold 500 shares of treasury stock at $15 per share.

July 30     Sold 500 shares of treasury stock at $8 per share.

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journal entries
Transaction Date general journals debit amount credit amount
01-Mar Treasury stock a/c $12,000
         Bank a/c $12,000
( To recored Purchased 1000 shares of treasury stock at $12 per shar )
01-Jun bank a/c $7,500
    treasury stock a/c $7,500
( To recored Sold 500 shares of treasury stock at $15.)
30-Jul bank a/c $4,000
    treasury stock a/c $4,000
( To Recored Sold 500 shares of treasury stock at $8 per share)
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