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Microsoft Corporation purchased from its stockholders 10,000 shares of its own previously issued stock for $250,000. It later resold 3,000 shares for $30 per share,
Microsoft Corporation purchased from its stockholders 10,000 shares of its own previously issued stock for $250,000. It later resold 3,000 shares for $30 per share, then 2,000 more shares for $20 per share and finally 3,000 shares for $18 per share.
Prepare journal entries for the purchase of the treasury stock and the three sales of treasury stock.
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