1. Microsoft Corporation purchased from its stockholders 10,000 shares of its own previously issued stock for $300,000. It later resold 2,000 shares for $40 per share, then 3,000 more shares for $45 per share, then 2,000 shares for $25, then 1,000 shares for $10 and finally 2,000 shares for $12 per share.

Please prepare journal entries for the purchase of the treasury stock and the five sales of treasury stock.

PLEASE SHOW YOUR WORK