6. Paul Corporation purchased from its stockholders 5,000 shares of its own
previously issued stock for $250,000. It later resold 2,000 shares for $54 per
share, and then sold 2,000 more shares for $49 per share, and finally 1,000
shares for $40 per share. (no date required)
Instructions: Prepare journal entries for the purchase of the treasury stock
and the three sales of treasury stock.
Date
Account Name
Debit
Credit
