Please read the question carefully, and ONLY use the accounts given. Please show all work to ensure accuracy. Thank you.

In 2017, Pepsi Co. issued 340,000 of its 500,000 authorized shares of $10 par value common stock at $35 per share. In January, 2018, Pepsi Co repurchased 21,000 shares at $28 per share. Assume these are the only stock transactions the company has ever had.

Accounts to Chose From

Bonds Payable Buildings Cash Common Stock Common Stock Dividend Distributable Debt Investments Dividends Payable Dividends Payable-Common Dividends Payable-Preferred Discount on Bonds Payable Equipment Equity Investments Income Summary Land Legal Fees Expense No Entry Organization Expense Paid-in Capital from Treasury Stock Paid-in Capital in Excess of Par - Common Stock Paid-in Capital in Excess of Par - Preferred Stock Paid-in Capital in Excess of Stated Value - Common Stock Preferred Stock Property Dividends Payable Retained Earnings Retained Earnings Appropriated for Plant Expansion Treasury Stock Unamortized Bond Issue Costs Unrealized Holding Gain or Loss - Income

Prepare the journal entry to record the purchase of treasury stock by the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit SHOW LIST OF ACCOUNTS 10,000 shares of treasury stock are reissued at $31 per share. Prepare the journal entry to record the reissuance by the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Account Titles and Explanation Debit Credit Click if you would like to Show Work for this question: Open Show Work