On September 9, Palin Clothing Inc. reacquired 9,000 shares of its common stock at $24 per share.

Question:

On September 9, Palin Clothing Inc. reacquired 9,000 shares of its at $24 per share. On October 7, Palin Clothing sold 4,800 of the reacquired shares at $29 per share. On December 20, Palin Clothing sold the remaining shares at $22 per share. Journalize the transactions of September 9, October 7, and December 20.

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...