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On May 3, Lassman Corporation purchased 3,000 shares of its own stock for $27,000 cash. On November 4, Lassman reissued 750 shares of this treasury

On May 3, Lassman Corporation purchased 3,000 shares of its own stock for $27,000 cash. On November 4, Lassman reissued 750 shares of this treasury stock for $7,080.

Prepare the May 3 and November 4 journal entries to record Lassmans purchase and reissuance of treasury stock. (Omit the "$" sign in your response.)

Date General Journal Debit Credit
May 3 (Click to select)Treasury stockRetained earningsContributed capital, treasury stockAdditional paid-in capitalDividends payablePurchaseIssued capital, at par valueCash
(Click to select)PurchaseIssued capital, at par valueRetained earningsTreasury stockContributed capital, treasury stockDividends payableCashAdditional paid-in capital
Nov. 4 (Click to select)Retained earningsCashDividends payableIssued capital, at par valueTreasury stockAdditional paid-in capitalContributed capital, treasury stockPurchase
(Click to select)Retained earningsAdditional paid-in capitalIssued capital, at par valuePurchaseContributed capital, treasury stockTreasury stockDividends payableCash
(Click to select)Contributed capital, treasury stockPurchaseDividends payableAdditional paid-in capitalIssued capital, at par valueCashRetained earningsTreasury stock

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