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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 480 shares of

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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 480 shares of the company's own comon stock at $28 cash per share; the stock is now held in treasury. July 15 Issued 140 of the thares purchased on Pebruary 1 for $38 cash per share. September 1 Issued 100 sore of the shares purchased on February 1 for $23 cash per share. Required: 1. Indicate the account, amount, and direction of the effect for the above transactions. (Elater any decreases to account balances with a minus sign.)

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