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Required information [The following information applies to the questions displayed below.) The following selected transactions occurred for Corner Corporation: February 1 Purchased 500 shares

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Required information [The following information applies to the questions displayed below.) The following selected transactions occurred for Corner Corporation: February 1 Purchased 500 shares of the company's own common stock at $30 cash per share the stock is now beld in treasury. July 15 Issued 150 of the shares purchased on February 1 for $40 cash per share. September 1 Teaed 110 more of the shares purchased on February 1 for $25 each per share. Required: 1. Indicate the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.) February 1 July 15 July 15 beptember September 1 A Liabilities Stachelders Equity

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