This question has two parts. Please both of them in the box below.

a. In 2018, Southwestern Corporation completed the transactions listed below. Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago.

February 2:	Reacquired 70,000 shares at $12 as treasury stock
March 17:	sod 60,000 treasury shares at $9
May 17:	Sold 25,000 treasury shares at $8.

Required: Prepare the journal entries to record the above transactions, using the cost method.

b. In 2018, Western Corporation completed the transactions listed below. Western had issued 200,000 shares of its $1 par common stock for $10 several months ago.

February 21:	Reacquired 70,000 shares at $12 to retire them.
March 19;	Reacquired 60,000 shares at $9 to retire them
May 17:	Sold 25,000 new shares at $8.

Required: Prepare the journal entries to record the above transactions, using the cost method