PRINTER VERSION 4 BACK NEXT Problem 13-2A (Part Level Submission) Fechter Corporation had the following stockholders' equity accounts on January 1, 2017: Common Stock ($5 par) $511,650, Paid-in Capital in Excess of Par-Common Stock $205,950, and Retained Earnings $115,500. In 2017, the company had the following treasury stock transactions. Mar. 1 Purchased 6,780 shares at $9 per share. June 1 Sold 1,300 shares at $12 per share. Sept.1 Sold 1,920 shares at $10 per share. Dec. 1 Sold 1,220 shares at $7 per share. Fechter Corporation uses the cost method of accounting for treasury stock. In 2017, the company reported net income of $26,200. (a) Your answer is partially correct. Try again. Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2017, for net income. (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 Mart Treasury Stock 61,020 Cash 61,020 TAL BUHI Cash 15,600 Treasury Stock 10,400 search RU 8:31 PM automatically indented when amount is entered. Do not indent manually.) OURCES Date Account Titles and Explanation Debit Credit Mar. 1 Treasury Stock 61,020 Cash 61,020 Part 2 June 1 Cash 15,600 x 3) Treasury Stock 10,400 Paid-in Capital from Treasury Stock 5,200 Study Sept. 1 cash 19,200 treas 15,360 Paid-in Capital in Excess of Par-Preferred Stock 3,840 Dec. 1 Cash 8,540 Treasury Stock 1,220 Paid-in Capital in Excess of Par-Preferred Stock 9,760 Dec 3iTIncome Summary 26,200 Retained Earnings 26,200