Practice Problem

#3 TREASURY STOCK 4 journal entries 15 points Edmond Company had the following transactions during 2020. 1-Jan Issued common stock for cash. Number of shares issued 30,000 Par value per share $5 Market price per share $12 1-Mar The company purchased shares of its common stock for the treasury. Number of shares purchased 4,000 Market price per share $10 1-Jun The company sells some shares of its Treasury Stock Number of shares sold 1,000 $12 1-Sep The company sells some shares of its Treasury Stock Number of shares sold 2,000 Market price per share $8 INSTRUCTIONS: Journalize these transactions. Date Account Title Debit Credit