Treasury Stocks, Cost Method Bush-Caine Company reported the following data on its December 31, 2020 balance sheet: Preferred stock, $50 par $50,000 Additional paid-in capital preferred stock $4,000 Common stock, $10 par $100,000 Additional paid-in capital on common stock $80,000 Retained earnings $95,000 The following transactions were reported by the company during 2021: 1. Reacquired 200 shares of its preferred stock at $57 per share. 2. Reacquired 500 shares of its common stock at $16 per share. 3. Sold 100 shares of preferred treasury stock at $58 per share. 4. Sold 200 shares of common treasury stock at $17 per share. 5. Sold 100 shares of common treasury stock at $9 per share. 6. Retired the shares of common stock remaining in the treasury. The company maintains separate treasury stock accounts and related additional paid-in capital accounts for each class of stock. Required 1. Prepare the journal entries required to record the treasury stock transactions using the cost method