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On January 1, 2014, the stockholders equity section of Newlin Corporation shows common stock ($5 par value) $1,500,000; paid-in capital in excess of par $1,098,900;

On January 1, 2014, the stockholders equity section of Newlin Corporation shows common stock ($5 par value) $1,500,000; paid-in capital in excess of par $1,098,900; and retained earnings $1,246,900. During the year, the following treasury stock transactions occurred.

Mar. 1 Purchased 51,000 shares for cash at $15 per share.
July 1 Sold 10,500 treasury shares for cash at $17 per share.
Sept. 1

Sold 8,960 treasury shares for cash at $14 per share

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) (a Journalize the treasury stock transactions. (Credit account titles are automatically indented w Date Account Titles and Explanation Debit Credit Mar. 1 July 1 Sept. 1

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