Joshua Corporation _Treasury stock_purchase and sale

On January 1, 2012, the
stockholders’ equity section of Joshua Corporation shows: Common stock ($7 par
value) $2,100,000; paid-in capital in excess of par $1,062,100; and retained
earnings $1,209,400. During the year, the following treasury stock transactions
occurred.

Mar. 1
Purchased 50,000 shares for cash at $15 per share.
July 1
Sold 11,600 treasury shares for cash at $17 per share.
Sept.
1 Sold 10,470 treasury shares for cash at $14 per share.

(a)
Journalize the treasury stock transactions. (Credit account titles are
automatically indented when amount is entered. Do not indent manually.)

(b) Restate the entry for September 1, assuming
the treasury shares were sold at $12 per share. (Credit account titles are
automatically indented when amount is entered. Do not indent manually.)