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The Dec. 31, 2019 shareholders' equity section of ABC Corporation's statement of financial position is as follows: Share Capital Ordinary Shares, 2 par, 100,000 shares

The Dec. 31, 2019 shareholders' equity section of ABC Corporation's statement of financial position is as follows:

Share Capital

Ordinary Shares, 2 par, 100,000 shares authorized, 75,000 shares issued and outstanding. = 300,000

Share Premium. =187,500

Total Share Capital. = 487,500

Retained Earnings. = 182,500

Total Shareholders' Equity. = 670,000

Required: Prepare the journal entries to record the following transactions that took place during January 2020:

Jan. 4 Purchased 12,000 shares of its own ABC's stock for 84,000.

Jan. 10 Sold 2,000 shares of the treasury stock for 4.50 per share.

Jan. 29 Sold 7,000 shares of the treasury stock for 3 per share.

Jan. 31 Sold the remaining 3,000 shares of treasury stock for 3.50 per share.

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