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BE13-7 On July 1, Raney Corporation purchases 500 shares of its $5 par value common stock for the treasury at a cash price of $9

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BE13-7 On July 1, Raney Corporation purchases 500 shares of its $5 par value common stock for the treasury at a cash price of $9 per share. On September 1, it sells 300 shares of the treasury stock for cash at $11 per share. Journalize the two treasury stock transactions

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