On April 2nd a corporation purchased for cash 5,000 shares of its own $10 par common stock

Question:

On April 2nd a corporation purchased for cash 5,000 shares of its own $10 par common stock at $16 per share. They sold 3,000 of the treasury shares at $19 per share on June 15th. The remaining 2,000 shares were sold on November 10th for $12 per share.

(a). Journalize the entries to record the purchase (treasury stock is recorded at cost).

(b). Make the entries to record the sale of the stock

Common Stock
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