Answer:
           Ellajane Corporation - Journal Entries
Date       Particulars                       Debit         Credit
1-Mar      Treasury Stock              $35,000
                      To Cash                                       $35,000
                (Being 2500 shares of treasury stock purchased at $14 per share)
10-Apr       Cash A/c (1250*$18)    $22,500
                         To Treasury Stock (1250*14)      $17,500
                         To Additional Paid in Capital     $5,000
                  (Being 1250 shares of treasury stock sold at $18 per share)
12-Jun       Cash A/c (1250*12)                      $15,000
                   Additional Paid in Capital A/c   $2,500
                           To Treasury Stock (1250*14)                 $17,500
                    (Being 1250 shares of treasury stock sold at $12 per share)