The original sale of the 5,000, $50 par value common shares of Eddy Company was recorded...

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The original sale of the 5,000, $50 par value common shares of Eddy Company was recorded as follows: (D) Cash.............. 290,000 (C) Common Stock................ (C) Additional Paid-In Capital.. 250,000 40,000 Instructions: Record the treasury stock transactions (given below) under the cost method of accounting for treasury stock. Be sure to label journal entry answers as "a", "b", "c". Also be sure to label debits and credits clearly. Transactions: a) Bought 400 shares of common stock as treasury shares at $62. b) Sold 90 shares of treasury stock at $60. c) Sold 50 treasury shares at $68. The original sale of the 5,000, $50 par value common shares of Eddy Company was recorded as follows: (D) Cash.............. 290,000 (C) Common Stock................ (C) Additional Paid-In Capital.. 250,000 40,000 Instructions: Record the treasury stock transactions (given below) under the cost method of accounting for treasury stock. Be sure to label journal entry answers as "a", "b", "c". Also be sure to label debits and credits clearly. Transactions: a) Bought 400 shares of common stock as treasury shares at $62. b) Sold 90 shares of treasury stock at $60. c) Sold 50 treasury shares at $68.