Accounting for Treasury Stock On August 19, Portland Corporation repurchases 8,500 shares of its outstanding common stock for $16 per share. On October 31, Portland sells 5,100 shares of treasury stock for $17 per share. Any additional sales of treasury stock during the year were sold for $12 per share. On December 31, Portland had no remaining treasury stock. Required: Prepare the necessary journal entries to record any transactions associated with treasury stock. If an amount box does not require an entry, leave it blank. Aug. 19 Treasury Stock Cash Oct. 31 Cash Treasury Stock Additional Paid-In Capital-Treasury Stock Nov. 17 Cash 136,000 136,000 86,700 81,600 5,100 Additional Paid-In Capital-Treasury Stock Retained Earnings Treasury Stock Feedback