On January 10,a corporation purchased 5,000 shares of its own common stock at $17.50 per share.On August 4,a total of 1,000 treasury shares were sold at $19.00 per share.These are the only treasury stock transactions ever made by the corporation.Prepare the journal entries required on January 10 and August 4.

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The Answer of On January 10,a corporation purchased 5,000 shares of its own common stock at $17.50 per share.On August 4,a total of 1,000 treasury shares were sold at $19.00 per share.These are the only treasury stock transactions ever made by the corporation.Prepare the journal entries required on January 10 and August 4.

On January 10,a Corporation Purchased 5,000 Shares of Its Own