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Brief Exercise 13-7 On July 1, Raney Corporation purchases 560 shares of its $4 par value common stock for the treasury at a cash price

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Brief Exercise 13-7 On July 1, Raney Corporation purchases 560 shares of its $4 par value common stock for the treasury at a cash price of $9 per share. On September 1, it sells 310 shares of the treasury stock for cash at $11 per share. Journalize the two treasury stock transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Open Show Work Click if you would like to Show Work for this

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