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Bridgeport Inc. has outstanding 10,000 shares of $10 par value common stock. On July 1, 2020, Bridgeport reacquired 112 shares at $87 per share. On
Bridgeport Inc. has outstanding 10,000 shares of $10 par value common stock. On July 1, 2020, Bridgeport reacquired 112 shares at $87 per share. On September 1, Bridgeport reissued 62 shares at $94 per share. On November 1, Bridgeport reissued 50 shares at $83 per share.
Prepare Bridgeports journal entries to record these transactions using the cost method.
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