< Treasury Stock Transactions Zapco engaged in the following transactions during the current year: a. Repurchased 3,000 shares of its own $20 par common stock for $26 per share on January 14. b. Sold 2,400 treasury shares to employees for $20 per share on January 31. c. Repurchased 2,000 more shares of the $20 par common stock for $27 per share on July 24. d. Sold the remaining 600 shares from the January 14 purchase and 1,500 of the shares from the July 24 purchase to employees for $22 per share on August 1. Required: 1. Prepare journal entries for each of these transactions. If an amount box does not require an entry, leave it blank. a. Jan. 14 Treasury Stock Cash b. Jan. 31 c. July 24 d. Aug. 1 2. Conceptual Connection: Determine what the effect on total stockholders' equity is for each of the four transactions.