7. On January 3, Topaz Corporation purchased 1,900 shares of the company's $4 par value common stock as treasury stock, paying cash of $10 per share. On January 30, Topaz sold 1,050 shares of the treasury stock for cash of $14 per share. Journalize these transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the purchase of the treasury stock. Date Jan. 3 Accounts and Explanation Debit Credit 7. On January 3, Topaz Corporation purchased 1,900 shares of the company's $4 par value common stock as treasury stock, paying cash of $10 per share. On January 30, Topaz sold 1,050 shares of the treasury stock for cash of $14 per share. Journalize these transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the sale of treasury stock shares. Date Jan. 30 Accounts and Explanation Debit Credit