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Cheyenne Corp. purchased 4,900 shares of its $12 par value common stock for $328,300 on August 1. It will hold these shares in the
Cheyenne Corp. purchased 4,900 shares of its $12 par value common stock for $328,300 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 2,940 shares of treasury stock for cash at $73 per share. Journalize the 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. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit
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