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On 2017 May 12, Moon company reacquired 400 shares of its outstanding common stock for OMR 54 each. How this transaction would be recorded in
On 2017 May 12, Moon company reacquired 400 shares of its outstanding common stock for OMR 54 each. How this transaction would be recorded in the form of journal entry?
a.
None of the options
b.
Cash Dr 21,600 OMR / Treasury stock Cr 21,600 OMR
c.
Treasury stock Dr 21,600 OMR / Cash/Bank Cr 21,600 OMR
d.
Bank Dr 21,600 OMR / Treasury stock Cr 21,600 OMR
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Financial Accounting Version 3.0
Authors: Leah Kratz, Joe Ben Hoyle, C. J. Skender
3rd Edition
1453392904, 9781453392904
