Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 820 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 320 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 500 shares of its treasury stock for $6 per share.

Required: Prepare the journal entries to record these transactions.

2019 Feb. 1

Treasury Stock

Cash

(Record purchase of treasury shares) Mar. 1

Cash

Treasury Stock

Additional Paid-In Capital - Treasury Stock

(Record reissue of treasury shares) May 10

Cash

Additional Paid-In Capital - Treasury Stock

Retained Earnings

Treasury Stock (Record reissue of treasury shares)