Record Carmel Corporation’s following stock transactions, which represent all its treasury stock transactions for the year, using T accounts:
June 1 Purchased 1,000 shares of its own $30 par value common stock for $70 per share, the current market price.
10 Sold 250 shares of treasury stock purchased on June 1 for $80 per share.
20 Sold 350 shares of treasury stock purchased on June 1 for $58 per share.
30 Retired the remaining shares purchased on June 1. The original issue price was $42 per share.