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Sunland Corporation's general ledger includes the following account balances: Contributed Surplus $10,000 Common...

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Accounting

Sunland Corporation's general ledger includes the following account balances:
Contributed Surplus
$10,000
Common Shares
$300.000
Retained Earnings
$85,000
The Contributed Surplus account arose from net excess of proceeds over cost on a previous cancellation of common shares. The average cost of the common shares bought and cancelled in the first two transactions shown below is $32 per share.
Assuming that the above balances existed before any of the transactions that follow, record the journal entries for each transaction.
Bought and cancelled 430 shares at $39 per share.
b.
Bought and cancelled 220 shares at $46 per share.
Sold 3,200 shares at $40 per share.
d.
Sold 1,700 shares at $49 per share.
Bought and cancelled 1,100 shares at $51 per share.
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