Laser Inc. has the following account balances on December 31, 2019. Common stock, $1 par, 6,000 shares

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Laser Inc. has the following account balances on December 31, 2019.

Common stock, $1 par, 6,000 shares issued$6,000Paid-in capital in excess of par84,000

Prepare journal entries for the following three separate scenarios.

a. On January 15, 2020, Laser Inc. acquires and immediately retires 600 shares of stock at $15 per share.

b. On January 15, 2020, Laser Inc. acquires and immediately retires 600 shares of stock at $17 per share.

c. On January 15, 2020, Laser Inc. acquires and immediately retires 600 shares of stock at $14 per share.

Posted Date: Jun 15, 2024 03:17 AM

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Laser Inc. has the following account balances on December 31, 2019. Common stock, $1 par, 6,000 shares

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