BACK Exercise13-8 Rinehart Corporation purchased from its stockholders 4,900 shares of its own previously issued stock for $254,800. It later resold 1,625 shares for $55 per share, then 1,625 more shares for $50 per share, and finaly 1,650 shares for $44 per share Qutatien 12 Prepare jourmal entries for the purchase of the treasury stock and the three sales of treasury stock. (Credit account titles are automatically indented when amount is entered Do not indent manually) Account Titles and Explanation Debit Credit Obiestive To record purchase from stockholders) To record sales off shars at $55 pr share To recond sales of shares at$50 per share.)