Exercise 18-12 Treasury stock [LO18-5) In 2018, Western Transport Company entered into the treasury stock transactions described below. In 2016, Western Transport had issued 160 million shares of its $1 par common stpck at $15 per share. Required Prepare the appropriate journal entry for each of the following transactions: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Enter your answers in millions (Le.. 10,000,000 should be entered as 10).) 1. On January 23, 2018, Western Transport reacquired 10 million shares at $18 per share. 2. On September 3, 2018, Western Transport sold 1 million treasury shares at $19 per share. 3. On November 4, 2018, Western Transport sold 1 million treasury shares at $16 per share. Answer is complete but not entirely correct. No Date General Journal Debit Credit 1January 23, 2018 Treasury stock 180,000,0008 Cash 180,000,0008 2 September 03, 20 Cash 19,000,000 3 Answer is complete but not entirely correct. No Date General Jornal Debit Credit 1January 23, 2018 Treasury stock 180,000,0008 Cash 80,000,000 2 September 03, 20 Cash 19,000,000 Treasury stock Paid-in capital-excess of par 8,000,000 1,000,000 | 16,000,000 1,000,000 1,000,000 3 November 04, 201 Cash Paid-in capital-excess of par Retained earnings Treasury stock 18,000,000