Ayayai Ltd. purchased from its shareholders 5,600 shares of its own previously issued shares for 274,400. It later resold 1,900 shares for 53 per share, then 1,700 more shares for 48 per share, and finally 2,000 shares for 39 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 Debit Credit (To record purchase of treasury shares.) (To record sales of shares at 53 per share.) (To record sales of shares at 48 per share.) (To record sale of shares at 39 per share.)