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A corporation repurchases 200 of its common shares for $7 per share. The shares had been issued for $6 per share. The entry to record

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A corporation repurchases 200 of its common shares for $7 per share. The shares had been issued for $6 per share. The entry to record the reacquisition requires a debit to: O "retained earnings for $1,200" o "common shares for $1,200 O"common shares for $1,400" O contributed surplus-shares repurchase for $200

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