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In 2014, Southwestern Corporation completed the treasury stock transactions listed below. February 2: Reacquired 70,000 shares at $12. March 17: Sold 20,000 shares at $14.

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In 2014, Southwestern Corporation completed the treasury stock transactions listed below. February 2: Reacquired 70,000 shares at $12. March 17: Sold 20,000 shares at $14. May 17: Sold 25,000 shares at $8. Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago. Prepare the journal entries to record the above transactions using the cost method

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