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At the start of 20X5, Carrie Corp. had 20,000 shares of $2 par common stock issued and outstanding. All 20,000 shares had been issued in
At the start of 20X5, Carrie Corp. had 20,000 shares of $2 par common stock issued and outstanding. All 20,000 shares had been issued in the prior year for $15 per share. On February 1, 20X5, Carrie repurchased 3,000 shares of its own stock for $10 per share. It plans to reissue these shares at a future time. Question: What journal entry should Carrie make to record the February 1, 20X5 transaction? for $ Answer: It should deb it +and credit + for $
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