In-Class Exercise Question P15-5 (L02) Treasury Stock-Cost Method Before Gordon Corporation engages in the treasury stock transactions listed below, its general ledger reflects, among others, the following account balances and par value. Paid-in Capital in Excess of Par - Common Stock $ 99,000 Common Stock $ 270,000 Retained Earnings $ 80,000 Par value of common stock $ 30.00 per share Instructions: Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method for purchase-sale purposes. (c) Sale of treasury stock Number of shares 350 Price per share 42.00 Debit Credit (d) Sale of treasury stock Number of shares Price per share 110 38.00 Debit Credit