Kagel Corporation had 30,000 shares of $5 par value common stock issued and outstanding on December 31, 20x5. Each share was issued during 20x3 at $14 per share.

Prepare the entries in journal form without explanations for the following transactions occurring in 20x6:

Jan.4 - Purchased 5,000 shares of treasury stock for $16 per share. This is the first transaction involving its own stock ever engaged in by the company.

Jan.31 - Sold 1,000 shares of treasury stock for $15 per share.

Feb.20 - Sold 1,000 shares of treasury stock for $18 per share.

Mar.16 - Sold 1,000 shares of treasury stock for $11 per share.

May.8 - Purchased 500 shares of treasury stock for $12 per share.