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In 2021, Southwestern Corporation completed the treasury stock transactions listed below. February 2: Reacquired 66,000 shares at $11.60. March 17: Sold 16,000 shares at $13.80.
In 2021, Southwestern Corporation completed the treasury stock transactions listed below. February 2: Reacquired 66,000 shares at $11.60. March 17: Sold 16,000 shares at $13.80. May 17: Sold 21,000 shares at $7.80. Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago. Required: Prepare the journal entries to record the above transactions, using the cost method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Sold 16,000 shares at $13.8. Note: Enter debits before credits. Date March 17, 2021 General Journal Debit Credit Record entry Clear entry View general journal In 2021, Southwestern Corporation completed the treasury stock transactions listed below. February 2: Reacquired 66,000 shares at $11.60. March 17: Sold 16,000 shares at $13.80. May 17: Sold 21,000 shares at $7.80. Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago. Required: Prepare the journal entries to record the above transactions, using the cost method. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet
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