Treasury Stock Transactions Fritz Inc. had no treasury stock at the beginning of the year. During February, Fritz purchased 13,200 shares of treasury stock at $31 per share. In May, Fritz sold 5,500 of the treasury shares for $35 per share. In November, Fritz sold the remaining treasury shares for $22 per share. Required: Prepare journal entries for the February, May, and November treasury stock transactions. If an amount box does not require an entry, leave it blank. Feb. Treasury Stock: Cash May Cash Treasury Stock Additional Paid-In Capital-Treasury Stock Nov. Cash Retained Earnings x x Additional Paid-In Capital-Treasury Stock Treasury Stock x x Feedback Check My Work When purchasing its own previously issued stock, corporations record a reduction to stockholders' equity for the purchase amount of the treasury stock