Swifty Corporation purchased from its stockholders 5,600 shares of its own previously issued stock for $280,000. It later resold 2,100 shares for $53 per share, then 2,100 more shares for $48 per share, and finally 1,400 shares for $42 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.)

Swifty Corporation purchased from its stockholders 5,600 shares of its own previously issued stock for $280.000. It later resold 2.100 shares for $53 per share, then 2,100 more shares for $48 per share, and finally 1,400 shares for $42 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 for the amounts) Account Titles and Explanation Debit Credit Treasury Stock 7XXXI Cash 200000 (To record purchase from stockholders.) Cash 111300 Treasury Stock 105700 Paid-in Capital from Treasury Stock (To record sales of shares at 553 per share.) Cash 100800 Paid-in Capital from Treasury Stock 42X! Treasury Stock 96600 (To record sales of shares at $48 per share.) Cash SAXI Pald-in Capital from Treasury Stock 2100 Retained Earnings Treasury Stock (To record sale of shares at 512 per share.)