Treasury Stock During the first 6 months of 2003, Tompkins Trustco repurchased 83,050 of its own shares at an average price of $42.53 per share and held them in the treasury. At December 31, 2002, the balance in the treasury stock account was $466,000. Par value was $1 per share. 1. Prepare the journal entry for the 2003 purchase of treasury shares. 2. Give the balance in the Treasury Stock Account at June 30, 2003. 3. In fact, Tompkins Trustco did not add the repurchased shares to treasury stock. Instead, they cancelled the shares and returned them to unissued status. This is accounted for with a debit to capital stock at par value and a debit to paid in surplus for the remainder. Give the actual entry Tompkins made.