Question 8 On January 1, 2017, the equity section of Kingbird ASA shows share capital- ordinary (5 par value) 1,500,000; share premium-ordinary 1,014,700; and retained earnings 1,195,000. During the year, the following treasury share transactions occurred. Mar. 1 Purchased 51,000 shares for cash at 12 per share. July 1 Sold 10,600 treasury shares for cash at 14 per share. Sept. 1 Sold 9,470 treasury shares for cash at 11 per share. (a) Journalize the treasury share transactions. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Sept. 1 (b) Restate the entry for September 1, assuming the treasury shares were sold at 9 per share. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Sept. 1