In 2011, Poe’s Products completed the treasury stock transactions described below.

| June 11, 2016

Question
In 2011, Poe’s Products completed the treasury stock transactions described below.

January 2: Reacquired 10 million shares at $16 per share.

February 15: Sold 3 million treasury shares at $20 per share.

September 20: Sold 3 million treasury shares at $15 per share.

Poe had issued 50 million shares of its $1 par common stock for $18 several years ago.

Required:

Prepare the journal entries required for the above transactions (in proper format), assuming that Poe’s Products uses the cost method.

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