Common Stock
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JF Company issued 10,000 shares of $15 par common stock on Feb 1, 2007 for $20 per share. The company bought back 2000 shares when the share price fell to $16 per share on Aug 31, 2007 and then resold 1000 shares when the price rebounded to $22 per share on Dec 15, 2007. JF accounts for its treasury stock transactions using the cost method. What amount would JF report as common stock in the equity section of its Dec 31, 2007 balance sheet?
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