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Elroy Corporation repurchased 2,200 shares of its own stock for $50 per share. The stock has a par of $15 per share. Required: a. Record

Elroy Corporation repurchased 2,200 shares of its own stock for $50 per share. The stock has a par of $15 per share. Required: a. Record the event in general journal format. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

  • Record the repurchase of own stock.

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