The original sale of the 450 par-value common shares of Gray Company was recorded as follows: Cash 290,000 Common stock 250,000 Paid-in capital in excess of par 40,000 Instructions: Record the treasury stock transactions (given below) under the cost method. Transactions: (a) Bought 300 shares of common stock as treasury shares at $62 (b) Sold 80 shares of treasury stock at $60 (c) Sold four treasury shares at $68