• On January 1, 2019, the stockholders’ equity section of Intercontinental Corporation shows: Common stock ($5 par value) $1,500,000; paid-in capital in excess of par value $1,000,000; and retained earnings $1,200,000. During the year, the following treasury stock transactions occurred.

Mar.         1   Purchased 30,000 shares for cash at $22 per share.

July          1   Sold 6,000 treasury shares for cash at $27 per share.

Oct.          1   Sold 5,000 treasury shares for cash at $19 per share.

Dec          1   Sold 3,000 treasury share for cash at $10 per share.

REQUIRED:

     Journalize the treasury stock transactions.