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Unformatted text preview: difference between the selling price and the repurchase price. If Soccer Trio Corporation subsequently sells 7,500 of the shares repurchased for $25 for $28, the entry to record the sale would be as shown: General Journal Date Account Title and Description Ref. Debit Credit 20X1 June 15 Cash (7,500 $28) 210,000 Treasury Stock (7,500 $25) 187,500 Additional paid-in-capital (treasury stock) 22,500 Record sale of 7,500 shares of treasury stock at $28...
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- Spring '09
- Treasury Stock