Answer:
The journal entries are made as  follows;
Explanation:
1.Cash  100,000*50                 Dr.$5,000,000
Common Stocks    100,000*5 Cr.$500,000
Paid in capital-common stocks  Cr.$4,500,000
2.Treasury Stocks          20,000*45  Dr.$100,000
    Cash 20,000*45                          Cr.$100,000
3. Cash 7,500*46                      Dr.$345,000
     Treasury Stocks 7,500*45        Cr.$337,500
     Paid in Capital-Treasury stocks  7,500*(46-45)   Cr.$7,500
4.Cash 7,500*44                                      Dr.$330,000
Paid in capital-Treasury Stock 7,500*1       Dr.$7,500   
Treasury stocks 7,500*45                       Cr.$337,500
    
   
    .