Question
Sarasota Corporation purchased 3,500 shares of its $10 par value common stock for $234,500 on August 1. It will hold these shares in the
Sarasota Corporation purchased 3,500 shares of its $10 par value common stock for $234,500 on August 1. It will hold these shares in the treasury until resold. On December 1, the corporation sold 2,100 shares of treasury stock for cash at $73 per share. Journalize the treasury stock transactions. (List all debit entries before credit entries. Record journal entries in the order presented in the problem. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Aug. 1 Dec. 1 V < Account Titles and Explanation Treasury Stock Cash Cash Treasury Stock Paid-in Capital from Treasury Stock Debit 234500 153300 Credit 234500 25,200 1,28,100
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Principles of Corporate Finance
Authors: Richard A. Brealey, Stewart C. Myers, Franklin Allen
10th Edition
9780073530734, 77404890, 73530735, 978-0077404895
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