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Hewitt Company's balance sheet shows: Common stock, $20 par $3,000,000 Paid-in capital in excess of par 1,050,000 Match the following transactions with the correct journal

Hewitt Company's balance sheet shows:

Common stock, $20 par $3,000,000

Paid-in capital in excess of par 1,050,000

Match the following transactions with the correct journal entry, using the cost method. Assume all shares originally issued at the same price, $27 each.

?____

Cash ............................. 7,000

RE ................................ 250

Treasury Stock ........ 7,250

?____

Common Stock (500x20)...... 10,000

Paid-in CS (500x7) ................. 3,500

RE...(500x2)...................... 1,000

Treasury Stock (500x29) 14,500

?____

Treasury Stock ..............29,000

Cash .................................. 29,000

?____

Cash ............................ 7,500

Paid-in Capital TS ................250

Treasury Stock ....................,250

1.

ABC purchased 1,000 shares of its common stock at $29 a share.

2.

ABC retired 500 shares of treasury stock.

3.

ABC sold 250 of the treasury shares at $28 a share.

4.

ABC sold the remaining 250 of the treasury shares at $30 a share.

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