On january 1,2017 the stockholders equity section of newline corporation shows common stock ($5 par value ) $1,500,000 paid in capital in excess of par $1,000,000 and retained earnings $1,200,000 During the year the following treasury stock transactions Mar 1 purchased 50,000 shares for cash at $15 per share july 1 sold 10,000 treasury shares for cash at $17 per share sept 1 sold 8,000 treasury shares for cash at $14 per share (a) journalize the treasury stock transactions (b) restate the entry for sept 1 assuming the treasury shares were sold at $12 per share