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On January 1, 2014, Brown Corporation was formed by issuing 8,000 shares of its $20 par value common stock at $45 per share. Prepare the

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On January 1, 2014, Brown Corporation was formed by issuing 8,000 shares of its $20 par value common stock at $45 per share. Prepare the journal entries to record the following treasury stock transactions for Brown Corp. (assuming Brown does not have any other stock transactions and uses the cost method to account for its treasury stock): March 7, 2017 Bought 300 shares of its common stock as treasury stock at $80 per share May 23, 2018 Sold 100 shares of treasury stock at $75 per share June 12, 2018 Sold 130 shares of treasury stock at $84 per share August 27, 2019 Retired 70 shares of treasury stock

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