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BE12.5 (LO 2) On July 1, Pearl River Industries purchases 500 of its HK$20 par value ordinary shares for the treasury at a cash
BE12.5 (LO 2) On July 1, Pearl River Industries purchases 500 of its HK$20 par value ordinary shares for the treasury at a cash price of HK$80 per share. On September 1, it sells 350 treasury shares for cash at HK$90 per share. Journalize the two treasury share transactions. Prepare entries for treasury share transactions.
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Accounting Principles
Authors: Jerry Weygandt, Paul Kimmel, Donald Kieso
11th Edition
111856667X, 978-1118566671
