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Sanchez and Santos had the following transactions during the past year involving the purchase and sale of treasury stock. July 14 Purchased 4,000 shares of

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Sanchez and Santos had the following transactions during the past year involving the purchase and sale of treasury stock. July 14 Purchased 4,000 shares of its own $12 par common stock for $15 per share. 17 Sold 2,000 shares of the treasury stock for $17 per share. 29 Sold 2,000 shares of the treasury stock for $13 per share. Required: Prepare the journal entries for the transactions. If an amount box does not require an entry, leave it blank. Page: DATE POST. DESCRIPTION DEBIT CREDIT REF. 1 Jul 14 Common Treasury Stock 60,000 1 2 Cash 60,000 2 3 3 Jul 17 Cash 34,000 4 5 Common Treasury Stock 2,000 5 6 Paid In Capital from Sale of Treasury Stock 7 7 Jul 29 Cash 26,000 8 Common Stock Subscriptions Receivable 34.000 9 10 Common Treasury Stock 10 4 8 9

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