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8. Prepare any necessary journal entries for the following transactions: A. On May 15, the corporation purchases 1,000 shares of its own common stock for
8. Prepare any necessary journal entries for the following transactions: A. On May 15, the corporation purchases 1,000 shares of its own common stock for $25 per share The stock has a par value of $5 per share. B. On November 15, the company sells 500 shares of the treasury stock for $30 per share
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