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1) If a company repurchases shares for a price less than the average price of the shares then the difference in price will be a

1) If a company repurchases shares for a price less than the average price of the shares then the difference in price will be a

credit to contributed surplus

credit to retained earnings.

debit to retained earnings.

Please answer only the correct and I want to have the proper explanation of it.

debit to contributed surplus

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