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Instructions Record the treasury stock transactions (given below) under the cost method: Transactions: (a) Bought 3000 shares of common stock as treasury shares at $62.

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Instructions Record the treasury stock transactions (given below) under the cost method: Transactions: (a) Bought 3000 shares of common stock as treasury shares at $62. (2 marks) (b) Sold 800 shares of treasury stock at $60. (3 marks) (c) Sold 400 treasury shares at $68. (2 marks)

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