This Question: 3 pts 20 of 28 (0 complete 7. On January 3, Puritan Corporation purchased 2,100 shares of the company's $4 par value common stock as treasury stock, paying cash of $12 per share. On January 30, Puritan sold 1,300 shares of the treasury stock for cash of $16 per share. Journalize these transactions. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Journalize the purchase of the treasury stock. Date Accounts and Explanation Debit Credit Jan. 3 Journalize the sale treasury stock shares. Date Accounts and Explanation Debit Credit Jan. 30 7. On January 3, Puritan Corporation purchased 2,100 shares of the company's Journalize the purchase of the treasury stock. Date Accounts and Explanation Jan. 3 Cash Common Stock-$4 Par Value Common Stock Dividend Distributable Dividends PayableCommon Journalize tt Paid-In Capital from Treasury Stock Transactions Paid-In Capital in Excess of ParCommon Date Retained Earnings Jan. 30 Treasury Stock-Common Date Accounts and Explanation Det Jan. 3 Journalize tt Date Jan. 30 Del Declared a cash dividend. Issued common stock for cash. Purchased treasury stock. Sold treasury stock above cost. Sold treasury stock at cost. Sold treasury stock below cost