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Lynn Co. issued 150,000 shares of $10 par common stock for $1,800,000. Lynn acquired 6,000 shares of its own common stock at $15 per share.

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Lynn Co. issued 150,000 shares of $10 par common stock for $1,800,000. Lynn acquired 6,000 shares of its own common stock at $15 per share. Three months later Lynn sold 3,000 of these shares at $19 per share. Record the sale of the 3,000 treasury shares assuming Lynn uses cost method. I o

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