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After being in business for several years and issuing its common stock to the public, Bargain Central, Inc., completed the following treasury stock transactions: (Click
After being in business for several years and issuing its common stock to the public, Bargain Central, Inc., completed the following treasury stock transactions: (Click the icon to view the transactions.) Read the requirements. Requirement 1. Journalize these transactions. Explanations are not required. (Record debits first, then credits. Exclude explanations from any journal entries.) Begin by journalizing the purchase of the treasury stock. Requirements Journal Entry Accounts Debit Credit a. 1. 2. Journalize these transactions. Explanations are not required. What kind of account is Treasury Stock? After completing the two transactions, how should Bargain Central, Inc., report the treasury stock on its balance sheet? Now let's journalize the sale of the treasury stock. Print Done Journal Entry Accounts Debit Credit b. Requirement 2. What kind of account is Treasury stock? After completing the two transactions, how should Bargain Central, Inc., report the treasury stock on its balance sheet? Treasury stock is After completing the two transactions, how should Bargain Central, Inc., report the treasury stock on its balance sheet? Complete the partial balance sheet below to show how the company should record the treasury stock on its balance sheet. (Complete all answer boxes.) Bargain Central, Inc. Balance Sheet (partial) Total paid-in capital $ XXX,XXX XXX,XXX Retained earnings Subtotal XXX,XXX Treasury stock at shares @ $ XXX, XXX Total Stockholders' Equity Choose from any list or enter any number in the input fields and then continue to the next
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