Arantxa Corporation has outstanding 20,000 shares of R($5) par value ordinary shares. On August 1, 2015, Arantxa

Question:

Arantxa Corporation has outstanding 20,000 shares of R$$5$ par value ordinary shares. On August 1, 2015, Arantxa reacquired 200 shares at R$$80$ per share. On November 1, Arantxa reissued the 200 shares at R$$70$ per share. Arantxa had no previous treasury share transactions. Prepare Arantxa’s journal entries to record these transactions using the cost method.

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