Required information [The following information applies to the questions displayed below.] On January 1, 2021, American Apparel Company issues 1,000 shares of $1 par value common stock at $15 per share. On May 1, 2021, American Apparel decides to purchase 100 shares at a cost of $18 per share. 07 Record the transaction if American Apparel resells the 100 shares of treasury stock at $20 per share. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.) nces View transaction list Journal entry worksheet 1 Record the sale of treasury stock. Note: Enter debits before credits. Transaction General Journal Debit Credit