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20. 20.On April 2 a corporation purchased for cash 6,000 shares of its own $12 par common stock at $26 per share. It sold 4,000
20. 20.On April 2 a corporation purchased for cash 6,000 shares of its own $12 par common stock at $26 per share. It sold 4,000 of the treasury shares at $29 per share on June 10. The remaining 2000 shares were sold on November 10 for $22 per share.
a. Journalize the entries to record the purchase (treasury stock is recorded at cost). Apr. 2
b. Journalize the entries to record the sale of the stock. If an amount box does not require an entry, leave it blank. Jun. 10 Nov. 10
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