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  3. on january 1,2020, the stockholders' equity sectio

On January 1,2020, the stockholders' equity section of Cheyenne Corp. shows common stock ($4 par...

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Accounting

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On January 1,2020, the stockholders' equity section of Cheyenne Corp. shows common stock ($4 par value) $1,200,000; paid-in capital in excess of par $1,070,000; and retained earnings 1,220,000. During the year, the following treasury stock transactions occurred. Mar. 1 Purchased 47,000 shares for cash at $15 per share. July 1 Sold 10,000 treasury shares for cash at $17 per share. Sept. 1 Sold 8,500 treasury shares for cash at $14 per share. Journalize the treasury stock transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.,) Date Account Titles and Explanation Debit Credit (a) Journalize the treasury stock transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit

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