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    Snowhite65's Avatar
    Snowhite65 Posts: 1, Reputation: 1
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    #1

    Dec 3, 2008, 07:37 PM
    Common stock for the treasury
    I do not understand how to journalize the following transaction.

    Purchased 1,000 shares of common stock for the treasury at a cost of $6,000.
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Dec 5, 2008, 04:57 AM

    Debit Treasury Stock for 6,000
    Credit Cash for 6,000
    (1,000 shares @ $6.00 per share)
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