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Gramble Corporation had the following stockholders' equity accounts on lanuary 1, 2022: Commen Stock i$4 par) $440.000, Paid in Capital in Excess of Par-Common 5

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Gramble Corporation had the following stockholders' equity accounts on lanuary 1, 2022: Commen Stock i\$4 par) \$440.000, Paid in Capital in Excess of Par-Common 5 tock $210,000, and Retained Earnings $110.000 in 2022 , the company had the following treasury stock transactions. Mar. 1 Purchased 7,000 sharesat 58 per share. June 1 Sold 1.000 shares at $13 per share. Sept. 1 Sold 1,000 shares at 511 per share. Dec. 1 5old 1000 shares at 57 per phare. Bramble Corporation uses the cost method of accounting for treasury stock. In 2022 , the company reported net income of 525,000 . (a) Journalize the treasury stock transactions, and prepare the closing entry at December 31,2022 , for net income itist al dehit entries before credit entries. Recond joumal entries in the order presented in the problem. Credit account tibles are outoms ticatily indented when amount is entered. Do not indent manuollyd

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