A corporation's balance sheet reported the following:

Capital stock issued and outstanding, 5,000 shares, par $30 per share $150,000

Paid-in capital in excess of par 80,000

Retained earnings 100,000

The following transactions occurred this year:

(a) Purchased 400 shares of capital stock to be held as treasury stock, paying $60 per share.

(b) Sold 300 of the shares of treasury stock at $65 per share.

(c) Sold the remaining shares of treasury stock at $50 per share.

Management uses the cost method to account for treasury stock transactions.

Using the attached T-account template:

Document the balances in each account. Label the balances with BAL

Prepare the entries to recognize the listed transactions. Label the transactions, a b and c