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
.
