Chiapas corporation purchased 2000 shares of its 10 par

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Chiapas Corporation purchased 2,000 shares of its $10 par value general stock for $120,000 on 1^st August. It will hold these shares in the treasury until resold. On 1^st December, the corporation sold 1,200 shares of treasury stock for cash at $72 per share. Journalize the treasury stock transactions.

Other Requirements:

Chiapas Corporation brought 2,000 shares of its $10 par value common stock for $120,000 on 1^st August. It will hold these shares in the treasury until resold. On 1^st December, the corporation sold 1,200 shares of treasury stock for cash at $72 per share. Journalize the treasury stock transactions.

Reference no: EM13351592

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