Ellison Company's balance sheet shows:            Common stock, $20 par                                 $3,000,000            Paid-in capital in excess of par                         1,050,000            Retained earnings                                                 750,000 Prepare necessary journal entries to record the following transactions by the cost method.Show your work for partial credits.  Bought 12,000 shares of its common stock at $29 a share.  Sold 6,000 treasury shares at $30 a share.  Sold 3,000 shares of treasury stock at $26 a share.

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