Current Attempt in Progress

On June $1,$ Teal Mountain Inc. issues $3,000$ shares of no$-$par common stock at a cash price of $$5$ per share.

On July $1,$ Larkspur Inc. purchases $560$ shares of its $$5$ par value common stock for the treasury at a cash price of $$11$ per share. Journalize the treasury stock transaction. $($Credit account titles are automatically indented when amount is entered. Do not indent manually. List debit entry before credit entry. If no entry is required, select $"$No Entry" for the account titles and enter Ofor the amounts.$)$

Date Account Titles and Explanation

Debit

Credit

July $1$

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