Question
Brief Exercise 15-9 Cullumber Corporation has outstanding 20,000 shares of $5 par value common stock. On August 1, 2017, Cullumber reacquired 190 shares at $79
Brief Exercise 15-9 Cullumber Corporation has outstanding 20,000 shares of $5 par value common stock. On August 1, 2017, Cullumber reacquired 190 shares at $79 per share. On November 1, Cullumber reissued the 190 shares at $70 per share. Cullumber had no previous treasury stock transactions. Prepare Cullumbers journal entries to record these transactions using the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Date Account Titles and Explanation Debit Credit 8/1/17 11/1/17
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