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Hannah Cookie Company offers all its employees the opportunity to purchase its $2 par value common stock at a 4% discount (meaning that the employee
Hannah Cookie Company offers all its employees the opportunity to purchase its $2 par value common stock at a 4% discount (meaning that the employee pays 96% of the market price). The employees have 2 weeks to elect to participate in the plan. The current market price of the stock is $90 per share. Employees purchased a total of 11,200 shares after 2 weeks of establishing the purchase plan and setting the discount. What journal entry will Hannah make on the date the employees purchase the shares? What journal entry would Hannah make if it only offered the employee purchase plan to its full-time, salaried employees? (Record debits first, then credits. Exclude explanations from any journal entries.) What journal entry will Hannah make on the date the employees purchase the shares? Account Date of Employee Purchase What journal entry would Hannah make if it only offered the employee purchase plan to its full-time, salaried employees? Account Date of Employee Purchase
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