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Hereford Inc. was authorized to issue 1,000,000 shares of $2 par value common shares. As of December 31, 2021, the company had issued 300,000
Hereford Inc. was authorized to issue 1,000,000 shares of $2 par value common shares. As of December 31, 2021, the company had issued 300,000 shares. On 3/1/2022, the company purchased 8,000 treasury shares at $25 per share. On 11/30/2022, the company sold $3,000 of the treasury shares for $28 per share. Prepare the journal entry for the sale of treasury stock on 11/30/2022. You may omit the journal entry description.
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