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122.Record the above transactions, assuming that Poe's Products uses the cost method. In 2011, Poe's Products completed the treasury stock transactions described below. January 2:

122.Record the above transactions, assuming that Poe's Products uses the cost method. In 2011, Poe's Products completed the treasury stock transactions described below. January 2: Reacquired 10 million shares at $16 per share. February 15: Sold 3 million shares at $20 per share. September 20: Sold 3 million treasury shares at $15 per share. October 20: Issued 3 million treasury shares at $10 per share. December 20: Retired 20000 shares of treasury stock. Poe had issued 50 million shares of its $1 par common stock for $18 several years ago

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