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ABC repurchased 2000 shares of stock for a total of $40,000, what is the journal entry? 1. Cash decreases by 40,000, treasury stock 40,000 2.

ABC repurchased 2000 shares of stock for a total of $40,000, what is the journal entry?

1. Cash decreases by 40,000, treasury stock 40,000

2. Cash decreases by 20, treasury stock 20

3. No entry

4. Cash decreases by 40,000, common stock decreases by 40,000

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