Business, 15.07.2020 04:01, cxttiemsp021

On May 1, Southern Oil Corporation purchased 2,000 shares of its $10 par value common stock at a cash price of $13/share. On July 15, 900 shares of the treasury stock were sold for cash at $17/share. Journalize the two transactions. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. Record journal entries in the order presented in the problem.)

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On May 1, Southern Oil Corporation purchased 2,000 shares of its $10 par value common stock at a cas...