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Your answer is partially correct. Try again. Sheffield Corporation purchased from its stockholders 4,600 shares of its own previously issued stock for $225,400. It later resold 1,575 shares for $52 per share, then 1,575 more shares for $47 per share, and finally 1,450 shares for $41 per share. Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Treasury Stock 225400 Cash 225400 (To record purchase from stockholders.) Cash 81900 Treasury Stock Paid-in Capital from Treasury Stock 4725 To record sales of shares at $52 per share.) Cash 4025 Paid-in Capital from Treasury Stock 787 Treasury Stock 81900 Cash 74025 Paid-in Capital from Treasury Stock 7875 Treasury Stock (To record sales of shares at $47 per share.) Cash 81900 59450 Paid-in Capital from Treasury Stock 6875 Retained Earnings 1825 Treasury Stock To record sale of shares at $41 per share.) Click if you would like to Show Work for this question: 68150 Open Show Work