Fouts Corporation purchased 2 000 shares of its 10 par value
Fouts Corporation purchased 2,000 shares of its $10 par value common stock for $130,000 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 1,200 shares of treasury stock for cash at $72 per share.
Journalize the treasury stock transactions.

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