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E10-40B. (Learning Objectives 2, 3: Recording treasury share transactions and measuring their effects on shareholders' equity) Journalize the following assumed transactions of Applebug Productions: Mar.

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E10-40B. (Learning Objectives 2, 3: Recording treasury share transactions and measuring their effects on shareholders' equity) Journalize the following assumed transactions of Applebug Productions: Mar. 16 Issued 2,500 shares of $1.50 par ordinary share at $7 per share. Purchased 700 shares of treasury share at $16 per share. Sold 500 shares of treasury share at $17 per share. Apr. 20 Aug. 8 What was the overall effect of these transactions on Applebug's shareholders' equity

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