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On 5/20/2017, Tillman Incorporated repurchased shares of its own $1. par value stock for the first time, paying $32 per share and purchasing 4,000 shares.
On 5/20/2017, Tillman Incorporated repurchased shares of its own $1. par value stock for the first time, paying $32 per share and purchasing 4,000 shares. On 8/20/2017, the company sold 500 of these shares back to the market at a price of $34 per share. Then, on 11/1/2017, the company sold 1,000 of these atiares back to the market at a price of $28 per share. What journal entry (if any) should the company record on 11/1/2017? Hint determine the journal entries for 5/20 and 8/20 before determining the journal entry for 11/7
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