Elephant Company started its operations on 1/1/2014. On 6/15/2014, Elephant Company repurchased 100,000 of its $1 par value shares from open market at $15/share. Shares were repurchased with the intention of reissue at a later date. On 8/31/2014, Elephant Company reissued 40,000 of these shares at $ 20/share. The remaining 60,000 shares were sold to its executives at $5/share on 12/31/2014. Show journal entries to be made on 6/15/2014, 8/31/2014 and 12/31/2014.