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Gellman Marketing Corporation reported the following stockholders' equity at December 31 (adapted and in millions): (Click the icon to view the data.) During the next year, Gellman purchased treasury stock at a cost of $30 million and resold treasury stock for $12 million (this treasury stock had cost the company $3 million) Read the requirements. Requirement 1. Record the purchase and resale of Gellman's treasury stock. (Record debits first, then credits. Exclude explanations from any journal entries. Enter amounts in millions as prove First, record the purchase of the treasury stock. Journal Entry Date Accounts Debit Credit Next, record the resale of the treasury stock Date Accounts Journal Entry Millions Debit Millions Credit eco lior Millions Data table *** Common stock Additional paid-in capital Retained earnings Treasury stock Total stockholders' equity Print $ $ Done 275 285 2,169 (641) 2,088 - X ter amo sury stock (Docord debite first then credite Evolude explanations from any iournal entries. Enter amounts in millions - X Requirements 1. Record the purchase and resale of Gellman's treasury stock. 2. Overall, how much did stockholders' equity increase or decrease from the two transactions? Print Done Debit Credit Millions Journal Entry Date Accounts Next, record the resale of the treasury stock Journal Entry Accounts Date Millions Requirement 2. Overall, how much did stockholders' equity increase or decrease from the two transactions? (Enter a decrease with a minus sign or parentheses.) The increase (decrease) in overall stockholders' equity, in milions, is Debit Millions Debit Credit Credit Cash re Common stock ce Accounts Dividends Payable Paid-in capital in excess of par Paid-in Capital from Treasury Stock Transactions Preferred stock Retained Earnings Treasury Stock Require The inc Debit it Mill Million ease from t

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