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.)

1.

May 1,

DR Treasury Stock $ 26,000

CR Cash $26,000

(To record purchase of Treasury Stock)

Working - 2,000 * $13 per share

= $26,000

2.

July 15,

DR Cash $ $15,300

CR Treasury Stock $11,700

CR Additional Paid-in Capital $3,600

(To record sale of Treasury Stock)

Working and Notes

Cash = 900 * $17 per share = $15,300

Treasury Stock = 900 * purchase price of $13 per share = $11,700

When a stock is sold for more than it was bought or issued for, record this in the Additional Paid-in Capital account.

= Cash - Treasury

= 15,300 - 11,700

= $3,600

answer; i believe the answer is 40,600,000;

muslims control the north africa during the period of 1500 up

to 1800. they made a barrier to prevent further european exploration from

entering the africa from the north. however, the dutch ware still able to move

toward the interior with having south africa as one of the routes leading to

the east for trading with asia.