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A company has $10,000 shares of $10 par common stock outstanding. Prepare the entries to record the following: March 1 Purchased 1000 shares of...

A company has $10,000 shares of $10 par common stock outstanding.  Prepare the entries to record the following:

March 1  Purchased 1000 shares of treasury stock at $12 per share.  There were no previous purchases of treasury stock.

June 1     Sold 500 shares of treasury stock at $15 per share.

July 30     Sold 500 shares of treasury stock at $8 per share.

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Date accounts debit credit March 1 Treasury stock 12 , 000 Cash 12 , 000... View the full answer

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    • May 03, 2018 at 12:22pm
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    • May 03, 2018 at 12:23pm

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