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Needing Help Riverbed Corporation's balance sheet reported the following: The following transactions occurred this year: (a) Purchased 220 shares of capital stock to be held
Needing Help
Riverbed Corporation's balance sheet reported the following: The following transactions occurred this year: (a) Purchased 220 shares of capital stock to be held as treasury stock. paying $60 per share. (b) Sold 150 of the shares of treasury stock at $65 per share. (c) Sold the remaining shares of treasury stock at $52 per share. Prepare the journal entry for these transactions under the cost method of accounting for treasury stock. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Step by Step Solution
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