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CS Corp. purchased its own common stock on January 1, 2022 for $50,000 and debited the treasury stock account for the cost of the
CS Corp. purchased its own common stock on January 1, 2022 for $50,000 and debited the treasury stock account for the cost of the purchase. The treasury stock was subsequently re-sold for $55,000. The $5,000 difference between the cost and sales price should be recorded as Paid-in-Capital from Treasury Stock A loss on the income statement Retained Earnings OA gain on the income statement
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