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Recording Treasury Stock Transactions and Analyzing Their impact The following selected transactions occurred for Corner Corporation Feb. 1 Purchased 400 shares of the company's own common stock at $20 cash per share; the stock is now held in treasury Jul. 15 Issued 100 of the shares purchased on February 1, for $30 cash per share Sept. 1 Issued 60 more of the shares purchased on February 1, for $15 cash per share. Required: 1. Show the effects of each transaction on the accounting equation. 2. Give the indicated journal entries for each of the transactions 3. What impact does the purchase of treasury s have on dividends 4. paid? stock for an amount higher What impact does the issuance of treasury than the purchase price have on net income