Sunland Company purchased $4,300$ shares of its $$9$ par value common stock for $$279,500$ on August $1.$ It will hold these shares in the treasury until resold. On December $1,$ the corporation sold $2,580$ shares of treasury stock for cash at $$72$ per share.

Journalize the treasury stock transactions. $($Record journal entries in the order presented in the problem. 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.$)$

Date

Account Titles and Explanation

Debit

Credit