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Teal Company's balance sheet shows: Common stock, $20 par $2,800,000 Paid-in capital in excess of par 1,000,000 Retained earnings 700,000 Record the following transactions
Teal Company's balance sheet shows: Common stock, $20 par $2,800,000 Paid-in capital in excess of par 1,000,000 Retained earnings 700,000 Record the following transactions by the cost method. (List all debit entries before credit entries. 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 O for the amounts.) (a) Bought 7,800 shares of its common stock at $28 a share. (b) Sold 3,800 treasury shares at $29 a share. (c) Sold 1,800 shares of treasury stock at $25 a share. No. Account Titles and Explanation (a) (b) (c) Debit Credit
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