Sheffield Corp. purchased from its stockholders $5,500$ shares of its own previously issued stock for $$269,500.$ It later resold $1,900$ shares for $$52$ per share, then $1,900$ more shares for

$$47$ per share, and finally $1,700$ shares for $$41$ per 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.$)$

Account Titles and Explanation

Debit

Credit

$($To record purchase from stockholders.$)$

$($To record sales of shares at $$52$ per share.$)$

$($To record sales of shares at $$47$ per share.$)$

$($To record sale of shares at $$41$ per share.$)$