Question - Grouper Corporation has outstanding 20,000 shares of $5 par value common stock. On August 1, 2017, Grouper reacquired 220 shares at $86 per share. On November 1, Grouper reissued the 220 shares at $77 per share. Grouper had no previous treasury stock transactions.
Prepare Grouper's journal entries to record these transactions using the cost method.