On January 2, 2020, Liberty Corporation was authorized to issue 100,000 shares of $5 par value common stock. Liberty issued 20,000 shares of common stock on January 15, 2020, at $15 per share.

Required:

1. Record the entry on June 30, 2020, for purchase of 2,200 common shares for the treasury at $18 per share.
2. Record the entry on September 20, 2020, for the sale of 800 treasury shares at $21 per share.
3. Record the entry on November 3, 2020, for sale of 500 treasury shares at $17 per share.
4. Record the entry on December 15, 2020, for sale of 400 treasury shares at $13 per share.
5. Determine the number of shares issued and the number of shares outstanding on the following dates (after transactions have been recorded): June 30, 2020; September 20, 2020; November 3, 2020; and December 15, 2020.
6. My answer is

   	Account Name	Debit	Credit
   a.	Treasury stock	39600
   	Cash		39600
   b.	Cash	16800
   	Treasury stock		14400
   	Paid in capital- Treasury stock		2400
   c.	Cash	8500
   	Paid in capital- Treasury stock	500
   	Treasury stock		9000
   d.	Cash	5200
   	Paid in capital- Treasury stock	2000
   	Treasury stock		7200
   		Number of shares
   e.		Issued	Outstanding
   	June 30, 2020	2200
   	September 20, 2020		800
   	November 3, 2020		500
   	December 15, 2020		400