In 2021, Southwestern Corporation completed the treasury stock transactions listed below.

February2:Reacquired 77,000 shares at $12.70.March17:Sold 27,000 shares at $14.35.May17:Sold 32,000 shares at $8.35.

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.)

1.Reacquired 77,000 shares at $12.7.

2.Sold 27,000 shares at $14.35.

3.Sold 32,000 shares at $8.35.