Moving to another question will save this response. Question 14 of 15 23 Qprstion 14 4.5 points (4.5 Grades) On January 1, 2021, the stockholders' equity section of Seef Inc. was as follows: Common stock ($10 par value) $400,000; paid-in (contributed) capital in excess of par value $200,000, and retained earnings $150,000. During the year, the following treasury stock transactions occurred. March 5: Purchased 5,000 shares for cash at $14 per share. April 25: Sold 2,000 treasury shares for cash at $15 per share. June 25: Sold 3,000 treasury shares for cash at $11 per share Required: Prepare journal entries to record the above treasury stock transactions. Example: XYZ Company pays $10,000 cash to purchase land Answer: Dr. Land 10,000 Cr. Cash 10,000 CLEARLY INDICATE THE DEBITS & CREDITS -- For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac). BIU S Paragraph Arial V > 10pt :v Av IX I * o Q 53