Question text The original sale of the $10 par value ordinary shares of Gray Company was recorded as follows: Cash............................................................................................. 430,000 Share CapitalOrdinary................................................. 350,000 Share PremiumOrdinary.............................................. 80,000 Instructions Record the treasury share transactions (given below) under the cost method: Transactions: (a) Bought 300 ordinary shares as treasury shares at $22. (b) Sold 90 shares of treasury shares at $19. (c) Sold 120 treasury shares at $28.