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On January 1, 2021, the stockholders' equity section of Kingman Corporation shows: common stock ($5 par value) $2,000,000; paid- in capital in excess of par value $1,200,000; and retained earnings $1,500,000. During the year, the following treasury stock transactions occurred. Mar. 1 Purchased 60,000 shares for cash at $13 per share. July 1 Sold 15,000 treasury shares for cash at $15 per share. Sept. 1 Sold 10,000 treasury shares for cash at $11 per share. Journalize the treasury stock transactions. (Record journal entries in the order presented in the problem. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1 Treasury Stock 780000 Cash 7800 July 1 Cash 225000 Treasury Stock 1950 Paid-in Capital from Treasury Stock 300 Sept. 1 Cash 110000 Paid-in Capital from Treasury Stock 20000 Treasury Stock 1300 KINGMAN CORPORATION Stockholders' Equity $ List of Accounts Prepare the entry for September 1, assuming the treasury shares were sold at $8 per share. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Date Account Titles and Explanation Debit Credit Sept. 1 Cash 80000 Paid-in Capital from Treasury Stock Retained Earnings Treasury Stock 110000

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