The original sale of $50 par value common shares of Gray Co. was recorded as follows: Cash 290,000, Common Stock 250,000; Paid in Cap.

The original sale of $50 par value common shares of Gray Co. was recorded as follows: Cash 290,000, Common Stock 250,000; Paid in Cap. in Excess of Par 40,000Record treasury stock transactions using cost method for:a)bought 300 shares of common stock as treasury shares@ 62b)sold 80 shares of treasury stock at 60c)sold 40 treasury shares at 68.