Question: Problem 1 In 2018, Brown Barn, Inc. completed the treasury stock transactions described below January 2: Reacquired 12 million shares at $18 per share. February

Problem 1 In 2018, Brown Barn, Inc. completed the treasury stock transactions described below January 2: Reacquired 12 million shares at $18 per share. February 15: Sold 4 million shares at $25 per share. September 20: Sold 4 million treasury shares at $20 per share. Brown Barn had issued 60 million shares of its $1 par common stock for $20 several years ago. Required: Prepare any necessary journal entries to record the above transactions

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