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.