In 2021, Western Transport Company entered into the treasury stock transactions described below. In 2019, Western Transport had issued 140 million shares of its $1 par common stock at $17 per share.Required:Prepare the appropriate journal entry for each of the following transactions:1. On January 23, 2021, Western Transport reacquired 10 million shares at $20 per share.2. On September 3, 2021, Western Transport sold 1 million treasury shares at $21 per share.3. On November 4, 2021, Western Transport sold 1 million treasury shares at $18 per share.

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Consolidation

Consolidation in general examination implies an asset oscillating between well-defined methods of trading status. Consolidation is commonly known as market indecisiveness, which completes when the asset's values move forward or backward the trading structure.