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Monty Corp. purchased from its stockholders 5,000 shares of its own previously issued stock for $260.000. It later resold 2.100 shares for $55 per share.

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Monty Corp. purchased from its stockholders 5,000 shares of its own previously issued stock for $260.000. It later resold 2.100 shares for $55 per share. then 2,100 more shares for $50 per share, and finally 800 shares for $44 per share. Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry for the account titles and enter for the amounts. Debit Credit Account Titles and Explanation Treasury Stock 260000 Cash (To record purchase from stockholders.) Cash Treasury Stock Paid-in Capital from Treasury Stock (To record sales of shares at $55 per share.) Cash Paid-in Capital from Treasury Stock Treasury Stock (To record sales of shares at $50 per share.) Cash Paid-in Capital from Treasury Stock Retained Earnings Treasury Stock he r hede

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