Accounts Payable Accounts Receivable Accumulated Depreciation-Buildings Allowance for Doubtful Accounts Bad Debt Expense Buildings Cash Cash Dividends Common Stock Common Stock Dividends Distributable Depreciation Expense Dividends Payable Income Summary Income Tax Expense Income Taxes Payable Land No Entry Other Operating Expenses Paid-in Capital in Excess of Par Value-Common Stock Paid-in Capital in Excess of Par Value-Preferred Stock Paid-in Capital in Excess of Stated Value-Common Stock Preferred Stock Retained Earnings Service Revenue Stock Dividends Supplies Supplies Expense Treasury Stock Unearned Service Revenue

Do It! Review 11-3 Gibbs Corporation purchased 2,370 shares of its $12 par value common stock for $108,072 on August 1. It will hold these in the treasury until resold. Journalize the treasury stock transaction. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Credit Date Account Titles and Explanation Debit Aug. 1