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Teal Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 19,600 shares issued Paid-in capital in excess of
Teal Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 19,600 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $98,000 299,000 317,000 $714,000 During 2020, the following transactions occurred. Feb. 1 Mar. 1 Mar. 18 Apr. 22 Teal repurchased 2,110 shares of treasury stock at a price of $17 per share. 830 shares of treasury stock repurchased above were reissued at $15 per share. 550 shares of treasury stock repurchased above were reissued at $13 per share. 660 shares of treasury stock repurchased above were reissued at $20 per share. Prepare the journal entries to record the treasury stock transactions in 2020, assuming Teal uses the cost method. (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.) Date Account Titles and Explanation Debit Credit Mar. 1 Mar. 18
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