Answer:
Journal entries
Explanation:
On Feb 2
Treasury Stock Dr $840,000      (70,000 shares × $12)
    To Cash $840,000
(Being the required shares is recorded)
On March 12
Cash Dr $280,000           (20,000 shares × $14)
   To Treasury Stock $240,000   (20,000 shares × $12)
   To Additional Paid-In Capital $40,000
(Being the sale of shares is recorded)
On March 17
Cash $200,000         (25,000 shares × $8)
Discount on Capital Dr $100,000
     To Treasury stock $300,000          (25,000 shares × $12)
(Being the sale of shares is recorded)
Only these above entries are passed
