ctri ean, amazing machine PROBLEM # 2-12 POINTS Bailey, Inc. was incorporated on January 1, 2018. At that time, 50,000 shares of its $20 par value common stock was issued, at a price of $24 per share. The only other stockholders' equity transactions that occurred during 2018 were the following treasury stock transactions: March 1, 2018 Prchased 10,000 shares of the common stock as treasury, at a price of $21 per June 1, 2018 October 1, 2018 December 1, 2018 share. Reissued 6,000 shares of the treasury stock at a price of $22 per share. Reissued 3,000 shares of the treasury stock at a price of $16 per share. Retired the remaining treasury shares. REQUIRED: Prepare the appropriate journal entries to record the treasury stock transactions during 2018, assuming that Bailey uses the cost method to account for treasury stock