22 Your answer is partially correct. Skysong Ltd. purchased from its shareholders 5,400 shares of its own previously issued shares for 259,200. It later resold 2,000 shares for 52 per share, then 1,500 more shares for 47 per share, and finally 1,900 shares for 38 per share. Prepare journal entries for the purchase of the treasury shares and the three sales of treasury shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Treasury Shares Cash (To record purchase of treasury shares.) Cash Share Premium-Treasur Treasury Shares (To record sales of shares at 52 per share.) Debit 259,200 104000 Credit 259,200 3200 100800 Cash Share Premium-Treasury Treasury Shares (To record sales of shares at 47 per share.) Cash Share Premium-Treasury 70500 1500 72200 1600 72000 Retained Earnings Treasury Shares (To record sale of shares at 38 per share.) 17400 91200