On January 1, 2020, the stockholders' equity section of Culver Corporation shows common stock ($5 par value) $1,500,000; paid-in capital in excess of par $1,000,000; and retained earnings $1,160,000. During the year, the following treasury stock transactions occurred. 1 Purchased 47,000 shares for cash at $15 per share. Mar. 1 Sold 10,500 treasury shares for cash at $17 per share. July Sept. 1 Sold 9,000 treasury shares for cash at $14 per share. (a) Your answer is correct Journalize the treasury stock transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Treasury Stock 705000 Mar. 1 Cash 705000 Cash July 1 178500 Treasury Stock 157500 Paid-in Capital from Treasury Stock 21000 Sept. 1 Cash 126000 Paid-in Capital from Treasury Stock 9000 Treasury Stock 135000 (b) Restate the entry for September 1, assuming the treasury shares were sold at $12 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Date Cash