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On January 1, 2017, the company was formed and was authorized to issue of 15000 shares of $10 par value preferred stock and 40000 shares of $1 par value common stock
On January 2, 2017, 20000 shares are sold on the open market at $20 per share
On January 2 2017, 6000 shares of preferred stock are sold for cash at $9 per share
On July 2, 2017 company purchases 1,250 shares of the common stock outstanding at $15 per share
On august 1, 2017 the company sells 220 shares of treasury stock at $17 per share
On sept 1, 2017, the company sells 500 shares of treasury stock at 12 per share
Prepare journal entries necessary to record transactions, identify transactions by date.If no entry necessary write “no Entry”
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