Michaela Corporation purchased from its stockholders 5,010 shares of - 14073

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Michaela Corporation purchased from its stockholders 5,010 shares of its own previously issued stock for $240,480. It later resold 2,010 shares for $52 per share, then 2,010 more shares for $47 per share, and finally 990 shares for $38 per share.

Instructions

Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock. (For multiple debit/credit entries, list amounts from largest to smallest e.g. 10, 5, 3, 2.)

 

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