Vanguard Corp accounts for treasury stock using the cost method.
| Date | Event |
|---|
| March 3 | Purchased 2,000 shares of its own common stock for $15 per share. |
| July 20 | Reissued 1,200 of the treasury shares for $18 per share. |
Required: Prepare the journal entries for the purchase and the reissue. On reissue above cost, credit the excess to Paid-in Capital from Treasury Stock.