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Bobby Co. purchases 1,500 shares of its own $3 par value stock on November 1 for $40. Bobby Co. sells the stock on December 31
Bobby Co. purchases 1,500 shares of its own $3 par value stock on November 1 for $40. Bobby Co. sells the stock on December 31 for $50 a share. Bobby Co. will record a gain when they sell the treasury stock on December 1? True or False
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