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Apr 1 - Gretchen's Bake Shop has a $0 balance in Paid in Capital from Treasury Stock and a $18,000 credit balance in Retained Earnings.
Apr 1 - Gretchen's Bake Shop has a $0 balance in Paid in Capital from Treasury Stock and a $18,000 credit balance in Retained Earnings. June 1 - Gretchen's Bake Shop acquires 8,000 shares of its stock at $6 per share. . Oct 1 - Gretchen's Bake Shop sells 6,000 shares of its treasury stock for $7 per share. Dec 30 - Gretchen's Bake Shop sells 2,000 shares of its treasury stock for $1 per share. 1. What is the ending balance in the Paid in Capital from Treasury Stock account after all appropriate treasury stock related journal entries have been made ? Be sure to specify debit or credit. 2. What is the ending balance in the Retained Earnings account after all appropriate treasury stock related journal entries have been made ? Be sure to specify debit or credit. Show your work
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