Prepare journal entries for the following treasury stock transactions. Assume that all three happen in order when preparing each entry. 2/15/2015 Purchased 48,000 shares for cash at $13.50 per share.
| Prepare journal entries for the following treasury stock transactions. Assume that all three happen in order when preparing each entry. | |||||||||||
| 2/15/2015 | Purchased 48,000 shares for cash at $13.50 per share. | ||||||||||
| 6/6/2015 | Sold 12,500 treasury shares for cash at $16.00 per share. | ||||||||||
| 8/30/2015 | Sold 9,500 treasury shares for cash at $12.00 per share. | ||||||||||
| Instructions: Prepare journal entries for the above transactions. | |||||||||||
| Date | Account Title | Debit | Credit | ||||||||
| 2/15/2015 | Account to debit | Amount | |||||||||
| Account to credit | Amount | ||||||||||
| 6/6/2015 | Account to debit | Amount | |||||||||
| Account to credit | Amount | ||||||||||
| Account to credit | Amount | ||||||||||
| 8/30/2015 | Account to debit | Amount | |||||||||
| Account to debit | Amount | ||||||||||
| Account to credit | Amount |
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