Treasury Stock Transaction example: Note: show your journal entries AND computations In 2016, Poe's Products completed the treasury stock transactions described below. January 2: Reacquired 10 million shares at $16 per share. February 15: Sold 3 million shares at $20 per share. September 20: Sold 3 million treasury shares at $15 per share. Poe had issued 50 million shares of its $1 par common stock for $18 several years ago. Required: Record the above transactions, assuming that Poe's Products uses the cost method. Hint: September 20, 2016 Cash (3 $15) Paid-in capital-share repurchase Treasury stock (3 * $16)