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Journalize the transactions Feb 1 Pelter Company issues 50,000 shares of $2 par value...

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Accounting

Journalize the transactions

Feb 1 Pelter Company issues 50,000 shares of $2 par value common stock at $16 per share. Jun 1 For the first time in corporate history, Pelter purchases 10,000 shares of treasury stock at $18 per share. Pelter uses the cost method. Sep 1 Pelter reissues 5,000 treasury shares at 19 per share. Dec 1 Pelter retires the remaining treasury shares.

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