SALES OF TREASURY STOCK. The balance sheet of Amdahl Printing, Inc., on December 31, 19x2, shows the following equity section:

REQUIRED:
1. On January 1, 19x3, the company reacquired 300 shares of its stock for cash of $35 per share. Prepare the journal entry to record the acquisition, and prepare the equity section of the balance sheet immediately after the acquisition. 2. On March 20, 19x3, the company sold 100 shares of treasury stock for $37 per share. Give the journal entry to record the sale.
3. On June 10, 19x3, the company sold the remaining 200 shares of treasury stock for $33.50 per share. Prepare the journal entry to record the sale.

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Common stock, $20 par, 10,000 shares issued and outstanding Paid-in capital in excess of par Retained earnings Total equity $200,000 84,000 132,000 $416,000