Journal entries for treasury stock transactions. Prepare journal entries for the following transactions of Crissie Corporation using the cost method to account for treasury stock transactions:
a. Reacquired 2,000 shares of $10 par value common stock on January 15 for $45 per share.
b. Issued 1,200 shares of treasury stock to employees upon the exercise of stock options at a price of $28 per share on April 26.
c. Reacquired 3,000 shares of $10 par value common stock for $52 per share on August 15.
d. Issued 1,600 shares of treasury stock to holders of 800 shares of convertible preferred stock, which had a carrying value of $80,000 on November 24. Crissie Corporation uses a first in, first out assumption on reissues of treasury stock and uses carrying values to record conversions of preferred stock.
e. Sold 1,500 shares of treasury stock on the open market for $47 per share on December 20.