On January 10, a corporation purchased 5,000 of its own ordinary shares 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 share 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 of its own ordinary shares 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 share 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 of Its Own