Maria Company originally issued 37,500 shares of $5 par common stock for $294,000 on January 3, 2020. Maria purchased 2,000 shares of treasury stock for $20,000 on November 2, 2020. On December 6, 2020, 510 shares of the treasury stock are sold for $7,450. Prepare journal entries to record these stock transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) No. Account Titles and Explanation Debit Credit
Maria Company originally issued 37,500 shares of $5 par common stock for $294,000 on January 3, 2020. Maria purchased 2,000 shares of treasury stock for $20,000 on November 2, 2020. On December 6, 2020, 510 shares of the treasury stock are sold for $7,450. Prepare journal entries to record these stock transactions. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.) No. Account Titles and Explanation Debit Credit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Maria Company originally issued 37,500 shares of $5 par common stock for $294,000 on January 3, 2020. Maria purchased 2,000
shares of treasury stock for $20,000 on November 2, 2020. On December 6, 2020, 510 shares of the treasury stock are sold for
$7,450.
Prepare journal entries to record these stock transactions. (List all debit entries before credit entries. Credit account titles are
automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in
the problem.)
No.
Account Titles and Explanation
Debit
Credit
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