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E11-8 (Algo) Recording Treasury Stock Transactions and Analyzing Their Impact [LO 11-2, LO 11-3]

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The following selected transactions occurred for Corner Corporation:

February 1	Purchased 540 shares of the companys own common stock at $34 cash per share; the stock is now held in treasury.
July 15	Issued 170 of the shares purchased on February 1 for $44 cash per share.
September 1	Issued 130 more of the shares purchased on February 1 for $29 cash per share.

E11-8 (Algo) Part 2

2. Prepare journal entries for each of the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.)