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HELP On February 1, 2018, Cue Company acquired 1,000 shares of its $1 par value stock for $47 per share and held these shares in
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On February 1, 2018, Cue Company acquired 1,000 shares of its $1 par value stock for $47 per share and held these shares in treasury. On April 10, 2019, Cue resold all the treasury shares for $50 per share. Which of the following entries would be recorded when Cue Company resells the shares of treasury stock? A) 50,000 Treasury stock Additional paid-in capital B) 4 Cash Cash Treasury stock Retained earnings 50,000 47,000 3,000 47,000 3,000 Cash Common stock Additional paid-in capital D) Cash Treasury stock Additional paid-in capital OB OD OA 47,000 50,000 1,000 46,000 1,000 49,000 Step by Step Solution
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