Assume that 500,000 shares of $2 par value common stock have been authorized by Omega Co. Prepare the necessary journal entries for the following transactions.

Treasury Stock Question 1: Omega sells 100,000 shares of common stock at $7 per share.

Treasury Stock Question 2: Omega Co. reacquires 1,000 shares of its own $2 par stock at a price of $80 per share.

Treasury Stock Question 3: Omega reissues 400 of the treasury shares acquired at a cost of $80 per share at a price of $90 per share.