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In 2013, Poe's Products completed the treasury stock transaction described below. January 2: Reaquired 10 million shares at $16 per share. February 15: Sold 3
In 2013, Poe's Products completed the treasury stock transaction described below. January 2: Reaquired 10 million shares at $16 per share. February 15: Sold 3 million shares at $20 per share. September 20: Sold 3 million treasury shares at $15 per share. Poe has issued 50 million shares of its $1 par common stock for $18 several years ago. Required: Record the above transactions, assuming that Poe's Products used the cost method.
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