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Treasury Stock Transactions Garrett Inc. had no treasury stock at the beginning of the year. During February, Garrett purchased 12,600 shares of treasury stock at
Treasury Stock Transactions Garrett Inc. had no treasury stock at the beginning of the year. During February, Garrett purchased 12,600 shares of treasury stock at $23 per share. In May, Garrett sold 4,500 of the treasury shares for $25 per share. In November, Garrett sold the remaining treasury shares for $18 per share. Required: Prepare journal entries for the February, May, and November treasury stock transactions. Feb. (Record purchase of treasury shares) May (Record reissue of treasury shares) Nov. (Record reissue of treasury shares)
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