Treasury Stock Coastal Corporation issued 25,000 shares of s9 par value common stock at $21 per share and 6,000 shares of $54 par value, eight percent preferred stock at $82 per share. Later, the company purchased 3,000 shares of its own common stock at $24 per share. Support a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Coastal sold 2,000 shares of the treasury stock at $30 per share. Prepare the general journal entry to record the sale of this treasury stock. c. Assume that Coastal sold the remaining 1,000 shares of treasury stock at 519 per share. Prepare the journal entry to record the sale of this treasury stock. General Journal Ref Description Debit Credit Cash 525,000 $ 0 Common Stock OV 225.000 Paid-in-Capital in Excess of Par Value - Common Stock : 0 300,000 Issued common stock Cash 492.000 OV 8 Percent Preferred Stock 0 B24,000 Paid-in-Capital in Excess of Par Value Preferred Stock OV 168.000 Issued preferred stock. Treasury Stock - Common e 72.000 O Cash 0 72.000 Acquired common stock b. Cash 50 OXO 0 Treasury Stock - Common 0 Paid-in-Capital from Treasury Stock O OX Sold shares of treasury stock Cash 19.000 M Paid-in-Capital from Treasury Stock OV Treasury Stock Common Sold shares of treasury stock M . C DV 0 X O OX Check You have correctly selected 34 Partially correct Marks for this submission: 2.68/3.00