On January 1 , 20xx , Sunshine Corporation had 40,000 shares of $ 10 par value common stock issued and outstanding . All 40,000 shares had been...
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55.

On January 1, 20xx, Sunshine Corporation had 40,000 shares of $10 par value common stock issued and outstanding. All 40,000 shares had been issued in a prior period at $20.00 per share. On

February 1, 20xx, Sunshine purchased 2,000 shares of treasury stock for $23 per share and later sold the treasury shares for $21 per share on March 1, 20xx.The journal entry to record the purchase of the treasury shares on February 1, 20xx, would include aa.credit to Treasury Stock for $46,000.b.debit to Treasury Stock for $46,000.c.debit to a loss account for $6,000d.credit to a gain account for $6,000.
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Uploaded by: MasterDangerMoose5720

Subject: Accounting, Business

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