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Jones Junkyard Corp. had the following transactions for this year. Prepare journal entries for each transaction and post the transactions to the provided ledger cards

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Jones Junkyard Corp. had the following transactions for this year. Prepare journal entries for each transaction and post the transactions to the provided ledger cards as you go along. Note: You will not be posting the complete entries -- post to only the accounts listed in the ledger cards. a. On Jan 1, Jones Junkyard issued 5,000 shares of $3 par common stock for $17,000. b. On March 15, Jones Junkyard purchased 4,000 shares of their own stock on the open market for $12 cash per share. c. On July 10, Jones Junkyard re-issued 3,000 shares of treasury stock for $14 per share. d. On October 31, Jones Junkyard re-issued 1,000 shares of treasury stock for $11 per share. Journal entries: Date Description Debit Credit Jan 1 Cash Mar 15 Treasury Stock, Common Cash July 10 lulv 10 Cash Cash Oct 31 Cash Ledger cards: Treasury Stock, Common Date Debits Credits Balance Beg. Bal. Mar 15 * July 10 * Oct 31 D * Paid in Capital, Treasury Stock Debits Credits Balance Date Beg. Bal. July 10 : Oct 31, D

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