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In 2018, Johnson Corporation purchased 1,000 of its own shares at a cost of $22 per share. In 2019, Johnson Corporation resold those shares to
In 2018, Johnson Corporation purchased 1,000 of its own shares at a cost of $22 per share. In 2019, Johnson Corporation resold those shares to the public at a price of $25 per share. The par value of the common stock was $1 per share. What journal entry should Johnson Corporation make in 2019?
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