Problem 13-2A Fechter Corporation had the following stockholders' equity accounts on January 1, 2017: Common Stock ($5 par) $543,550, Paid-in Capital in Excess of Par-Common Stock $175,090, and Retained Earnings $119,390. In 2017, the company had the following treasury stock transactions. Mar. 1 Purchased 6,900 shares at $9 per share. June 1 Sold 1,500 shares at $13 per share Sept. 1 Sold 1,810 shares at $11 per share. Dec. 1 Sold 1,220 shares at $6 per share Fechter Corporation uses the cost method of accounting for treasury stock. In 2017, the company reported net income of $34,640 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 an, 1Threasury Stock 2100 ash 21.00 une 1 Cash 9500 reasury Stock 3500 aid-in Capital from Treasury Stock 6000 Sept. 1 Cash 9910 reasury Stock 6290 aid-in Capital from Treasury Stock 620 Dec. 1 ash 320 aid-in Capital from Treasury Stock reasury Stock Dec. 31 Income Summary etained Earnings