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Illusions, Inc. reacquired 28,000 shares of its common stock for $17 per share on June 1. On July 1 they sold 8,000 treasury shares for
Illusions, Inc. reacquired 28,000 shares of its common stock for $17 per share on June 1. On July 1 they sold 8,000 treasury shares for $20 per share. On August 1 they sold 5,000 treasury shares for $13 per share. Assuming no prior balance in the Additional Paid-in Capital from Treasury Stock Transactions account, what is the ending balance in this account following these transactions? O A. $8,000 debit balance O B. $4,000 credit balance O C. $5,000 credit balance O D. $4,000 debit balance
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