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Asap plz will give thumbs up Sheffield, Inc. paid $121000 to buy back 9600 shares of its $1 par value common stock. This stock was
Asap plz will give thumbs up
Sheffield, Inc. paid $121000 to buy back 9600 shares of its $1 par value common stock. This stock was sold later at a selling price of $9 per share. The entry to record the sale includes a debit to Paid-in Capital from Treasury Stock for $121000. debit to Retained Earnings for $34600. credit to Paid-in Capital from Treasury Stock for $9600. credit to Retained Earnings for $9600 Step by Step Solution
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