Required information

Use the following information for the Brief Exercises below

[The following information applies to the questions displayed below.] California Surf Clothing Company issues 1,000 shares of $1 par value common stock at $33 per share. Later in the year, the company decides to Purchase 100 shares at a cost of $36 per share.

Brief Exercise 10-9 Record sale of treasury stock (LO10-4)

Record the transaction if California Surf resells the 100 shares of treasury stock at $38 per share. (If no entry is required for a particular transaction/event, select "No Journal Entry Required" in the first account field.)