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Eastern Amusements Corporation had the following stockholders' equity on November 30: (Click the icon to...

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Eastern Amusements Corporation had the following stockholders' equity on November 30: (Click the icon to view the stockholders' equity.) On December 30, Eastern purchased 175 shares of treasury stock at $12 per share. Read the requirements Requirement 1. Journalize the purchase of the treasury stock. (Record debits first, then credits. Select the explanation on the last line of the journal entry table.) Date Accounts and Explanation Debit Credit Dec. 30 Data Table - STOCK Norders Equity s Paid-in Capital: Common Stock-$5 Par Value; 1,300 shares authorized, 280 shares issued and outstanding Paid In Capital in Excess of Par-Common Total Paid In Capital Retained Earnings 1.400 4,200 5,600 54.000 S 59,600 Total Stockholders' Equity

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