Exercise 11-13A Recording and reporting treasury stock transactions LO 11-5 The following information pertains to JAE Corp. at January 1, Year 1: Common stock, $10 par, 20,000 shares authorized, 2,000 shares issued and outstanding Paid-in capital in excess of par, common stock Retained earnings $20,000 15,000 82,000 JAE Corp. completed the following transactions during Year 1: 1. Issued 3,000 shares of $10 par common stock for $25 per share. 2. Repurchased 500 shares of its own common stock for $26 per share. 3. Resold 200 shares of treasury stock for $30 per share. Required a. How many shares of common stock were outstanding at the end of the period? Outstanding shares at the end of the period b. How many shares of common stock had been issued at the end of the period? Issued shares at the end of the period c. Prepare journal entries for these transactions and post them to T-accounts. (If no entry is required for a transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet 2 3 Issued 3,000 shares of $10 par common stock for $25 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet 1 Repurchased 500 shares of its own common stock for $26 per share. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal Journal entry worksheet