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A corporation purchases 4,000 shares of its $10 par common stock for $16 per share. The debit part of the journal entry for this transaction
A corporation purchases 4,000 shares of its $10 par common stock for $16 per share. The debit part of the journal entry for this transaction would be to Oa. Common Stock 40,000 Ob. Common Treasury Stock. 540.000 Oc. Common Treasury Stock, 564,000 Od, Cash, 564,000
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby
5th edition
978-0078025914
