Na ES SAY. Write your answer in the space provided or on a separate sh eet of paper 1) Underwood C ompany's only treasury stock transactions for the current year follow: (1) 2,000 shares of it shares at $45 share s common stock were p urchased on June 1 for $80,000; (2) On July 1 it reissued 500 of these per share; (3) On August 1 it reissued an additional 500 treasury shares at $38 per 1) Prepare the journal entries required to record these transactions. 2) Calculate the balance in Paid-in Capital, Treasury Stock, on September 1 assuming its beginning-year balance is zero MULTIPLE CHOICE. Choose the one alternative that best completes the statement or answers the question r $7,000 cash. The total 2) 2) A company issued 60 shares of $100 par value common stock fo amount of paid-in capital in excess of par is A) $600 B) $7,000 C) $1,000 D) $6,000 E) $100