Marks Corporation's stockholders' eruity at December 31, 2007, is as follows:

Common stock, $10 par (10,000 shares)	$100,000
Paid-in Captial	$3,000
	$103,000
Retained earnings	$197,000
Total Stockholder equity	$300,000

The following treasury stock transactions occured during 2008.

Jan. 2 ----- Purchased at $12 per share, 1,000 shares of Marks Corporation common stock.

Feb. 4 ----- Sold 500 shares of treasury stock at $13 per share.

May 10 --- Sold 500 chares of treasury stock at $8 per share.

Instructions:

Prepare the journal entries to record the treasury stock transactions in 2008 under the cost method.