Agler Corporation's balance sheet reported the following:

Capital stock outstanding, 5,000 shares, par $30 per share $150,000

Paid-in capital in excess of par 80,000 Retained earnings 100,000

The following transactions occurred this year:

(a) Purchased 200 shares of capital stock to be held as treasury stock, paying $60 per share.

(b) Sold 150 of the shares of treasury stock at $65 per share.

(c) Sold the remaining shares of treasury stock at $50 per share. Instructions Prepare the journal entry for these transactions under the cost method of accounting for treasury stock.

Instructions

Prepare the journal entry for these transactions under the cost method of accounting for treasury stock.

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