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Treasury Stock Journal Entries

Prepare the journal entries for each of the events that occurred during the year:

Jan 1 Issued 1,200 shares of $5 par value common stock at $15 per share.

Date	Accounts	Debit	Credit
Jan 1

July 15 Purchased 1,000 shares for $19 per share of common stock previously issued on Jan 1st.

Date	Accounts	Debit	Credit
July 15

July 31 Sold 250 shares of its shares repurchased on July 15th for $35 per share.

Date	Accounts	Debit	Credit
July 31

Aug 20 Sold 200 of its shares repurchased on July 15th for $17 per share.

Date	Accounts	Debit	Credit
Aug 20

Aug 31 The board of directors declared a cash dividend for $1.50 per share. The current market price of the stock is $20 per share.

Date	Accounts	Debit	Credit
Aug 31

Sept 1 Board Directors recorded today as the Date of Record for the cash dividend on Aug 31st.

Date	Accounts	Debit	Credit
Sept 1

Sept 5 The cash dividend that was declared on Aug 31st is paid to the common stockholders.

Date	Accounts	Debit	Credit
Sept 5

Dec 31 Purchased 300 shares for $25 per share of common stock previously issued on Jan 1st.

Date	Accounts	Debit	Credit
Dec 31

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