Problem 11-2A Blossom Company had the following stockholders' equity accounts on January 1, 2019: Common Stock ($5 par) $517,950, Paid-in Capital in Excess of Par-Common Stock $208,750, and Retained Earnings $103,530. In 2019, the company had the following treasury stock transactions Mar. 1 Purchased 6,960 shares at $9 per share. June 1 Sold 1,070 shares at $12 per share. Sept. 1 Sold 1,050 shares at $11 per share. Dec. 1 Sold 1,070 shares at $6 per share. Blossom Company uses the cost method of accounting for treasury stock. In 2019, the company reported net income of $28,530. Journalize the treasury stock transactions, and prepare the closing entry at December 31, 2019, for net income. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented wen 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.) Date Account Titles and Explanation Debit Credit Dec. 1 Open accounts for (1) Paid-in Capital from Treasury Stock, (2) Treasury Stock, and (3) Retained Earnings. (Post to T-accounts.) (Post entries in the order of journal entries presented in the previous part.) Paid-in Capital from Treasury Stock Treasury Stock Retained Earnings Blossom Company Balance Sheet (Partial)