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Date Cr. Recording Treasury Stock Transactions On January 2, 2020, Liberty Corporation was authorized to issue 140,000 shares of $5 par value common stock. Liberty issued 28,000 shares of common stock on January 15, 2020, at $15 per share. Required a. Record the entry on June 30, 2020, for purchase of 3,080 common shares for the treasury at $18 per share. b. Record the entry on September 20, 2020, for sale of 1,120 treasury shares at $21 per share. c. Record the entry on November 3, 2020, for sale of 700 treasury shares at $17 per share. d. Record the entry on December 15, 2020, for sale of 560 treasury shares at $13 per share. Note: List multiple debits (when applicable) in alphabetical order and list multiple credits (when applicable) in alphabetical order. Account Name Dr. . a. , a. June 30, 2020 Treasury Stock 55,440 Cash 55,440 b. Sept. 20, 2020 Cash b 23,520 Treasury Stock 20.160 x Retained Earnings 3,360 X C. Nov. 3. 2020 Cash 11.900 Paid-in Capital - Treasury Stock 700 Treasury Stock 12.600 d. Dec. 15, 2020 Cash 7,280 Paid-in Capital in Excess of Par-Common Stock 2.660 Retained Earnings Treasury Stock 10,080 . O X 140 e. Determine the number of shares issued and the number of shares outstanding on the following dates (after transactions have been recorded): June 30, 2020; September 20, 2020; November 3, 2020; and December 15, 2020. Issued Outstanding Shares Shares 1. June 30, 2020 31.080 x 136.920 x 2. Sept. 20, 2020 29.960 X 138,040 X 3. Nov. 3, 2020 29,260 X 138,740 X 3. Dec. 15, 2020 28,700 X 139,300 x

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