Exercise 181 a-b (Part Level Submission) An inexperienced accountant for Chetola Corporation made the following entries. July 1 Cash 240,000 Common Stock 240,0 (Issued 15,000 shares of no-par common stock, stated value $10 per share) Sept. Common Stock 32,000 Retained Earnings 4,000 Cash 36,000 (Purchased 2,000 shares issued on July 1 for the treasury at $18 per share) Dec. 1 Cash 20,000 Common Stock 16,000 Gain on of Stock 4,000 (Sold 1,000 shares of the treasury stock at $20 per share) Prepare the correcting entries that should be made to correct the accounts of Chetola Corporation. (Do not reverse the original entry. in the order presented in the problem.) Date Account Titles and Explanation Debit Credit Dec. 1