Journalize the following transactions of Olympic Sports, Inc., a chain of sports stores: May 4 Issued 21,000

Question:

Journalize the following transactions of Olympic Sports, Inc., a chain of sports stores:

May 4 Issued 21,000 shares of no-par common stock at $9 per share.

Jul 22 Purchased 1,500 shares of treasury stock at $7 per share.

Nov 22 Sold 300 shares of treasury stock at $11 per share.

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...