Garrett Inc. had no treasury stock at the beginning of the year. During February, Garrett purchased 14,800 shares of treasury stock at $21 per share. In May, Garrett sold 4,700 of th treasury shares for $24 per share. In November, Garrett sold the remaining treasury shares for $15 per share. Required: Prepare journal entries for the February, May, and November treasury stock transactions. CHART OF ACCOUNTS Garrett Inc. General Ledger ASSETS 111 Cash 112 Petty Cash 121 Accounts Receivable 123 Allowance for Doubtful Accounts 124 Notes Receivable 125 Supplies REVENUE 411 Sales Revenue 412 Service Revenue 413 Interest Income 414 Rent Revenue EXPENSES 511 Cont of Cando Cold. 124 Notes Receivable 125 Supplies 126 Prepaid Insurance 127 Prepaid Rent 128 Inventory 129 Interest Receivable 130 Investment 131 Land 132 Buildings 133 Equipment 134 Furniture EXPENSES 511 Cost of Goods Sold 512 Advertising Expense 513 Supplies Expense 514 Utilities Expense 515 Insurance Expense 516 Service Charge Expense 517 Bad Debt Expense 518 Rent Expense 521 Wages Expense 501 Internet Evnonco 135 Trucks 139 Accumulated Depreciation 141 Leased Assets 531 Interest Expense 541 Depreciation Expense 551 Income Taxes Expense 552 Legal Expense LIABILITIES 211 Accounts Payable 212 Utilities Payable 213 Insurance Payable 214 Wages Payable 215 Rent Payable 221 Interest Payable 223 Income Taxes Payable = Ga re Chart of Accounts 223 Income Taxes Payable 231 Dividends Payable 232 Unearned Sales Revenue 233 Unearned Rent Revenue 241 Bonds Payable 251 Notes Payable 1 EQUITY 311 Common Stock 312 Additional Paid-In Capital-Common Stock 313 Preferred Stock 314 Additional Paid-In Capital-Preferred Stock EQUITY 311 Common Stock 312 Additional Paid-In Capital-Common Stock 313 Preferred Stock 314 Additional Paid-In Capital-Preferred Stock 315 Treasury Stock 316 Additional Paid-In Capital-Treasury Stock 321 Retained Earnings 331 Dividends General Journal Prepare journal entries for the February 01, May 01, and November 01 treasury stock transactions. General Journal Instructions 1 2 GENERAL JOURNAL DATE ACCOUNT TITLE IMPACT ON FINANCIAL STATEME BALANCE SHEET POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY REVENUE INC L JOURNAL IMPACT ON FINANCIAL STATEMENTS BALANCE SHEET POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY REVENUE INCOME STATEMENT PAGE 1 EXPENSES NET INCOME General Journal 1 DATE 2 3 4 5 6 7 8 9 ACCOUNT TITLE POST. REF. DEBIT CREDIT ASSETS LIABILITIES EQUITY REVENUE