Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 770…

Cornerstone Exercise 10-28 (Algorithmic) Accounting for Treasury Stock On February 1, 2019, Destiny Enterprise repurchases 770 shares of its outstanding common stock for $9 per share. On March 1, 2019, Destiny sells 320 shares of treasury stock for $12 per share. On May 10, 2019, Destiny sells the remaining 450 shares of its treasury stock for $6 per share. Required: Prepare the journal entries to record these transactions. 2019 Feb. 1 (Record purchase of treasury shares) Mar. 1 TO 1 I 011 010) 1111 (Record reissue of treasury shares) May 10