Attempt 1 of 1 GO Question 22 Your answer is partially correct. Sheridan Ltd. purchased from its shareholders 5,200 shares of its own previously issued shares for 270,400. It later resold 1,900 shares for 56 per share, then 1,400 more shares for *51 per share, and finally 1,900 shares for 42 per share. Prepare journal entries for the purchase of the treasury shares and the three sales of treasury shares. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Treasury Shares Cash (To record purchase of treasury shares.) Debit 270400 Credit 270400 Cash Treasury Shares Share Premium-Treasu (To record sales of shares at 56 per share.) Cash Share Premium-Treasu Treasury Shares (To record sales of shares at 51 per share.) Cash Share Premium-Treasu Retained Earnings Treasury Shares (To record sale of shares at 42 per share.) 106400 71400 79800 x