ASSIGNMENT CLICK HERE TO REVIEW LEARNING OBJECTIVES QUESTION 1 Not yet answered Marked out of 11.00 F Flag question Treasury Stock Inland Corporation issued 50,000 shares of $4 par value common stock at $27 per share and 9,000 shares of $39 par value, ten percent preferred stock at $111 per share. Later, the company purchased 2,000 shares of its own common stock at $30 per share. a. Prepare the journal entries to record the share issuances and the purchase of the common shares. b. Assume that Inland sold 1,500 shares of the treasury stock at $36 per share. Prepare the general journal entry to record the sale of this treasury stock. c. Assume that Inland sold the remaining 500 shares of treasury stock at $26 per share. Prepare the journal entry to record the sale of this treasury stock. Finish attempt... Time left 0:59:24 General Journal Ref. Description Debit Credit a, Common stock ssued shares of common stock 10% Preferred stock issued shares of preferred stock