On January 1, 2025, Ace Supply Company issued 16,000 shares of $2 par value common stock for $120,000. On March 1, 2025, the company purchased 2,000 shares of its common stock for $15 per share for the treasury. Journalize the stock transactions of Ace Supply Company in 2025. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem. If no entry is required, select "No Entry" for the account titles and enter O for the amounts. List all debit entries before credit entries.) Date Jan. 1 March 1 V Account Titles and Explanation Cash Common Stock Treasury Stock t Debit Credit