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On August 19, 2019, Portland Corporation repurchases 5,500 shares of its outstanding common stock for $16 per share. On October 31, 2019, Portland sells 1,650

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On August 19, 2019, Portland Corporation repurchases 5,500 shares of its outstanding common stock for $16 per share. On October 31, 2019, Portland sells 1,650 shares of treasury stock for $24 per share. Any additional sales of treasury stock during the year were sold for $12 per share. On December 31, 2019, Portland had no remaining treasury stock. Required: Prepare the necessary journal entries to record any transactions associated with treasury stock. 2019 Aug. 19 Oct. 31 1111 111 HII III Nov. 17

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