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    Journal Entries for Treasury Stock

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    Record the following transactions of a company in general journal form:
    (a) Reacquired 8,000 of its own $10 par value common stock at $40 cash per share.
    The stock was originally issued at $15 per share.
    (b) Sold 2,000 shares of the stock reacquired under part (a) at $43 cash per share.
    (c) Sold 3,000 shares of the stock reacquired under part (a) at $39 cash per share.

    Journal Entries:

    Date Account Debit Credit
    1.

    2.

    3.

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    Journal entries

    Record the following transactions of a company in general journal form:
    (a) Reacquired 8,000 of its own $10 par value common stock at $40 cash per share.
    The stock was ...

    Solution Summary

    This solution is comprised of a detailed explanation to prepare journal entries for treasury stock.

    $2.19

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