Prior to June 30, a company has never had any treasury stock…

Prior to June 30, a company has never had any treasury stock transactions. The company repurchased 150 shares of its $1 par common stock on June 30 for $38 per share. On July 20, it reissued 75 of these shares at $42 per share. On August 1, it reissued 60 of the shares at $36 per share. What is the journal entry necessary to record the reissuance of treasury stock on July 20?

During August, Boxer Company sells $354,000 in merchandise t…

During August, Boxer Company sells $354,000 in merchandise that has a one year warranty. Warranty expense is estimated at 5% of sales. The warranty liability account has a credit balance of $11,600 before adjustment. The entry to record the estimated warranty expense for the month is: