Before Sheridan Corporation engages in the following treasury stock transactions, its general ledger reflects, among others, the following account balances (par value of its stock is $30 per share). Paid-in Capital in Excess of Par-Common Stock $102,700 (a) (b) (c) Common Stock (d) $256,800 Record the treasury stock transactions (given below) under the cost method of handling treasury stock; use the FIFO method for purchase-sale purposes. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Retained Earnings Bought 390 shares of treasury stock at $40 per share. Bought 320 shares of treasury stock at $43 per share. Sold 360 shares of treasury stock at $42 per share. Sold 110 shares of treasury stock at $38 per share. $72,300

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