stockhelders equity accounts on January 1, 2020 Common Stock ($5 par) $500,000, Paid-in Capital in Excess of Purchased 5,500 shares at $9 per share Mar. 1 June I Sold 1,000 shares at $13 per share. Sept.1 Sold 1,000 shares at si1 per share. Dec. 1 Sold 1,500 shares at $7 per share w (a) Sournalize the treasury stock transactions, and prepare the ciosing entry at December 31, 2020, for net income. (Record Journal entries in the Credit account titles are catty Indented when amount is gntered. Do not indent manually.) Your answer is correct. Open accounts for Paid-in Capital from Treasury Stock, Treasury Stock, and Retained Earnings. (Post entries in theo Pald-In Capital from Treasury Stock 4000 3000June 1Y Dec. 1 2000 Sept. 1 " Bal. 3000 Treasury Stock 9000 49500June 1 Mar. 1 9000 Sept. 1 Dec. 1 13500 Bal. Y 18000 Retained Earnings 120000 Bal. 30000 Dec. 31 Balance Sheet (Partial) December 31, 2020 Stockholders' Equity Paid-in Capital Capital Stock y Common Stock