Current Attempt in Progress

Sheffield Corporation's balance sheet reported the following:

Capital stock outstanding. $5,500$ shares, par $$25$ per share $$137,500$

Paid$-$in capital in excess of par

$77,500$

Retained earnings

$108,100$

ine totlowing transictions occurred this year:

$($a$)$ Purchased $210$ shares of capital stock to be held as treasury stock, paying $$62$ per share

$($b$)$ Seld $160$ of the shares of treasury stock al $$67$ oer share

fel Sold the remreining sheres of treasur stock at $$54$ per share:

Prepare the journalentry for these transactions under the cost method of accounting for treasury stock $($List oll debit entries before credit entriec Credit account titles are outomatically indented when amount is entered. Do not indent monually: If no enty is required, select Toro Entry" for the account titles and enter O for the omounts:

No$.$

Account Tities and Explanation

Debit

Credit

$($a$)$

$($s$)$

$41$