Ayayai Corporation purchased from its stockholders 4,000 shares of its own previously issued stock for $204,000. It late

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Ayayai Corporation Purchased From Its Stockholders 4 000 Shares Of Its Own Previously Issued Stock For 204 000 It Late 1 (79.03 KiB) Viewed 21 times

Ayayai Corporation purchased from its stockholders 4,000 shares of its own previously issued stock for $204,000. It later resold 1,600 shares for $54 per share, then 1,600 more shares for $49 per share, and finally 800 shares for $43 per share. Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. (List all debit entries before credit entries. Credit account titles are outomatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Treasury Stock Cash (To record purchase from stockholders.) Cash Treasury Stock Pald-In Capital from Treasury Stock (To record sales of shares at $54 per share.); (To record sales of shares at $49 per share.) Debit 204000 86400 Credit 204000