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2. (8 points) in 2021, Southwestern Corporation completed the treasury stock transactions listed below. February 2: March 17: Reacquired 70,000 shares at $12. Sold 20,000

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2. (8 points) in 2021, Southwestern Corporation completed the treasury stock transactions listed below. February 2: March 17: Reacquired 70,000 shares at $12. Sold 20,000 shares at $14. Sold 25,000 shares at 58. May 17: Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago Required: Prepare the journal entries to record the above transactions, using the cost method

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