REQUIRED:

 Journalize the treasury stock transactions.

On January 1, 2022, the stockholders' equity section of Monty Corp. shows common stock ($5 par value) $1,500,000; paid-in capital in excess of par $1,060,000; and retained earnings $1,220,000. During the year, the following treasury stock transactions occurred. Mar. 1 Purchased 48,000 shares for cash at $15 per share. Sold 10,500 treasury shares for cash at $17 per share. Sold 9,500 treasury shares for cash at $14 per share.. July 1 Sept. 1