ABC Corporation presented the following information in its 2021 statement of financial position:

Common Stock ($30 par value, 5,000 issued and outstanding) $150,000

Capital paid in excess of par value of common 80,000

Retained Earnings 100,000

Prepare journal entries for each of the following transactions that occurred during the year:

120 shares were purchased to be held as treasury shares at a cost of $50 per share.

90 of the shares held were sold at a price of $75 per share.

The remaining shares in the portfolio were withdrawn (cancelled).