On February 1, Motorsports Inc. reacquired 7,500 shares of its common stock at $30 per share. On

Question:

On February 1, Motorsports Inc. reacquired 7,500 shares of its at $30 per share. On March 15, Motorsports sold 4,500 of the reacquired shares at $34 per share.
On June 2, Motorsports sold the remaining shares at $28 per share.
Journalize the transactions of February 1, March 15, and June 2.

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...