Journalize the entries to record the following transactions for Wilderness Resorts Inc. Refer to the Chart of Accounts for exact wording of account titles.

Jan.

31

Reacquired 23,300 shares of its common stock

The stock outstanding when a corporation has issued only one class of stock.

at $32 per share.

Apr.

20

Sold 14,600 of the reacquired shares at $43 per share.

Oct.

4

Sold the remaining shares at $28 per share.

CHART OF ACCOUNTS

Wilderness Resorts Inc.

General Ledger

	ASSETS
110	Cash
120	Accounts Receivable
131	Notes Receivable
132	Interest Receivable
141	Merchandise Inventory
145	Office Supplies
151	Prepaid Insurance
181	Land
193	Equipment
194	Accumulated Depreciation-Equipment

	LIABILITIES
210	Accounts Payable
221	Notes Payable
226	Interest Payable
231	Cash Dividends Payable
236	Stock Dividends Distributable
241	Salaries Payable
261	Mortgage Note Payable

EQUITY

311

Common Stock

312

Paid-In Capital in Excess of Par-Common Stock

315

Treasury Stock

321

Preferred Stock

322

Paid-In Capital in Excess of Par-Preferred Stock

331

Paid-In Capital from Sale of Treasury Stock

340

Retained Earnings

351

Cash Dividends

352

Stock Dividends

390

Income Summary

Journalize the entries for the transactions. Refer to the Chart of Accounts for exact wording of account titles.

PAGE 10

JOURNAL

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