Rakish Co. purchases 3,500 shares of the company's $6 par value common stock for $8 per share. It later sells 2,000 shares for $12 per share. Please provide the journal entry for the sale of the treasury stock.

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The Answer of Rakish Co. purchases 3,500 shares of the company's $6 par value common stock for $8 per share. It later sells 2,000 shares for $12 per share. Please provide the journal entry for the sale of the treasury stock.

Rakish Co Purchases 3,500 Shares of the Company's $6 Par Value