1. On January 1, 2015, the stockholders equity section of Martin Corporation shows: common stock ($5 par value) $2,000,000; paid-in capital in excess of par value $1,200,000; and retained earnings $1,400,000. During the year, the following treasury stock transactions occurred.

Mar. 1 Purchased 60,000 shares for cash at $18 per share.

July 1 Sold 15,000 treasury shares for cash at $19 per share.

Sept. 1 Sold 10,000 treasury shares for cash at $17 per share.

Instructions:

1. Journalize the treasury stock transactions.