In $2024,$ Western Transport Company entered into the treasury stock transactions described below. In $2022,$ Western Transport had issued $240$ million shares of its $$1$ par common stock at $$24$ per share.

Required:

Prepare the appropriate journal entry for each of the following transactions:

Note: If no entry is required for a transaction$/$event$,$ select $"$No journal entry required" in the first account field. Enter your answers in millions $($i$.$e$.,10,000,000$ should be entered as $10).$

On January $23,2024,$ Western Transport reacquired $15$ million shares at $$27$ per share.

On September $3,2024,$ Western Transport sold $3$ million treasury shares at $$28$ per share.

On November $4,2024,$ Western Transport sold $3$ million treasury shares at $$2\mathrm{.}5$ per share.

Journal entry worksheet

$1$

$2$

$3$

Record the reacquisition of $15$ million shares at $$27$ per share.

Note: Enter debits before credits.

$\backslash$table$[[$Date$,$General Journal,Debit,Credit$],[$January $23,2024,,,]]$

$5$ of $6$

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