On February 15, 2011, Spring Hope Corporation repurchases 1,200 shares of its outstanding common stock for $7 per share. On March 1, 2011, Spring Hope sells 300 shares of treasury stock for $11 per share. On May 18, 2011, Spring Hope sells the remaining 900 shares of its treasury stock for $4 per share. Prepare the journal entries to record these transactions: To record repurchase: Debit: Credit: To record sale on March 1 Debit Credit Credit
