Stock Issuances and Repurchase

Larkin Company began operations on January 1, 2019. Larkin is authorized to issue 500,000 shares of $10 par value common stock. The following transactions occurred during 2019 and 2020.

1/1/19 Issued 300,000 shares of common stock for $50 per share. 6/1/20 Purchased 5,000 shares of treasury stock for $55 per share. 8/1/20 Resold 1,000 shares of the treasury stock for $50 per share. 9/1/20 Resold 2,000 shares of the treasury stock for $56 per share.

Instructions: Record the 2019 and 2020 stock transactions for Larkin.