Shelton Corp. was involved in the following transactions.

Jan.1 Issued 100000 shares of common stock, $2 par, for $12

Mar.1 Reacquired 20000 shares at $30.

July 1 Reissued 14000 shares at $40.

Sept.1 Reissued 5000 shares at $32.

Dec.1 Retired the remaining treasury stock shares.

Required. Prepare the required journal entries under both the par value and cost methods. Prepare the entries for all the par value transactions, then prepare all the cost method transactions.