Question: q1 Question 1 4.5 points Save Answe (4.5 Grades) On January 1, 2021, the stockholders' equity section of Seef Inc. was as follows: Common stock

q1 Question 1 4.5 points Save Answe (4.5 Grades) On January

Question 1 4.5 points Save Answe (4.5 Grades) On January 1, 2021, the stockholders' equity section of Seef Inc. was as follows: Common stock (S10 par value) $400,000, paid-in (contributed) capital in excess of par value $200,000, and retained earnings S150,000. During the year, the following treasury stock transactions occurred. March 5. Purchased 5,000 shares for cash at $14 per share April 25. Sold 2,000 treasury shares for cash at S15 per share June 25. Sold 3,000 treasury shares for cash at S11 per share Required: Prepare journal entries to record the above treasury stock transactions. CLEARLY INDICATE THE DEBITS & CREDITS Example: XYZ Company pays $10,000 cash to purchase land Answer Dr. Land 10,000 Cr. Cash 10,000 For the toolbar, press ALT-F10 (Por ALT-FN-F19 (Mar)

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