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A corporation purchased 25,000 shares ($1 par value) of its own stock for $40 per share. The entry to record this purchase would include a
A corporation purchased 25,000 shares ($1 par value) of its own stock for $40 per share. The entry to record this purchase would include a
a.) debit to Common Treasury Stock, $1,000,000
b.) debit to Common Treasury Stock, $25,000
c.) credit to Paid-in Capital from Treasury Stock, $975,000
d.) none of these.
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