On April 2 a corporation purchased for cash 7,000 shares of its own $14 par...
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Accounting
On April 2 a corporation purchased for cash 7,000 shares of its own $14 par common stock at $29 a share. It sold 4,000 of the treasury shares at $32 a share on June 10. The remaining 3,000 shares were sold on November 10 for $25 a share. a. Journalize the entries to record the purchase (treasury stock is recorded at cost). If an amount box does not require an entry, leave it blank Apr. 2 Treasury Stock Cash b. Journalize the entries to record the sale of the stock. If an amount box does not require an entry, leave it blank. Jun. 10 Nov. 10
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