On January 1, 2013, Sully purchases Carrie paying $592,000 for an 80% interest. At the time, Carries stockholders equity totaled $715,000, which consisted of common stock (40,000 shares) $100,000, additional paid in capital, $75,000, and retained earnings of $540,000. The acquisition date fair value of the 20% noncontrolling interest was $148,000. On January 1, 2014, Carrie reports retained earnings of $620,000. Sully has accrued the increase in Carries retained earnings through the application of the equity method. Both of the below transactions are to be viewed independently.

1. On January 1, 2014, Carrie issues 10,000 additional shares of common stock for $25.00 per share. Sully does not purchase any of the newly issued stock. Prepare the journal entry by Sully's to record the effects of the January 1, 2014, stock transaction by Carrie
2. On January 1, 2014 Carrie reacquires 8,000 shares of its own stock for $24.00 per share. None of these shares belonged to Sullys. Prepare the journal entry by Sully to reflect the effects of the transaction by Carrie