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In 2021, Southwestern Corporation completed the treasury stock transactions listed below. February 2: Reacquired 71,000 shares at $12.10. March 17: Sold 21,000 shares at $14.05.

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

February 2: Reacquired 71,000 shares at $12.10.

March 17: Sold 21,000 shares at $14.05.

May 17: Sold 26,000 shares at $8.05.

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.

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