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Arantxa Corporation has outstanding 20,280 shares of $5 par value common stock. On August 1, 2014, Arantxa reacquired 220 shares at $85 per share. On

Arantxa Corporation has outstanding 20,280 shares of $5 par value common stock. On August 1, 2014, Arantxa reacquired 220 shares at $85 per share. On November 1, Arantxa reissued the 220 shares at $79 per share. Arantxa had no previous treasury stock transactions. Prepare Arantxas journal entries to record these transactions using the cost method.

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