Accounting for Treasury Stock

On August 19, 2019, Portland Corporation repurchases 7,700 shares of its outstanding common stock for $17 per share. On October 31, 2019, Portland sells 2,695 shares of treasury stock for $26 per share. Any additional sales of treasury stock during the year were sold for $10 per share. On December 31, 2019, Portland had no remaining treasury stock.

Required:

Prepare the necessary journal entries to record any transactions associated with treasury stock.

2019 Aug. 19
Oct. 31
Nov. 17