Answer:
treasury stock 1,645,600 debit
cash 1,645,600 credit
--to record he purchase of TS--
cash 925,000 debit
treasury stock 850,000 debit
additional paid-in TS 75,000 debit
-to record sale of TS above their cost--
cash 760,500 debit
additional paid-in TS 35,100 debit
Treasury Stock 795,600 credit
Explanation:
<em><u>treasury stock cost:</u></em>
24,200 shares x $68 each = 1,645,600
sale of TS
proceeds: 12,500 x $74 =925,000
cost: 12,500 x $68 = 850,000
additional paid-in TS 75,000
second sale of TS:
proceeds _ 11,700 x $65 760,500
Cost: 11,700 x $68 795,600
additional paid-in TS 35,100
