On July $1,$ Cullumber Corporation purchases $590$ shares of its $$5$ par value common stock for the treasury at a cash price of $$9$ per

share.

Prepare a tabular summary to record the purchase of the treasury stock. $($If a transaction causes a decrease in Assets, Liabilities or

Stockholders' Equity, place a negative sign $($or parentheses$)$ in front of the amount entered for the particular Asset, Liability or Equity item that

was reduced.$)$