Rinehart Corporation purchased from its stockholders5,000shares of its own previously issued stock for $255,000. It later resold2,000shares for $54per share, then2,000more shares for $49per share, and finally1,000shares for $43per share.

Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock.(Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.)