Journalizing treasury stock transactions [10-15 min]
Stock transactions for Careful Driving School, Inc., follow:
Mar 4 | Issued 22,000 shares of $1 par common stock at $18 per share. |
May 22 | Purchased 1,400 shares of treasury stock—common at $11 per share. |
Sep 22 | Sold 500 shares of treasury stock—common at $24 per share. |
Requirement
1. Journalize the transactions.
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