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On July 1, Sheffield Corporation purchases 620 shares of its $5 par value common stock for the treasury at a cash price of $8 per

On July 1, Sheffield Corporation purchases 620 shares of its $5 par value common stock for the treasury at a cash price of $8 per share. On September 1, it sells 370 shares of the treasury stock for cash at $13 per share. Journalize the two treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date

Account Titles and Explanation

Debit

Credit

choose a transaction date July 1Sept. 1

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

choose a transaction date July 1Sept. 1

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

enter an account title

enter a debit amount

enter a credit amount

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