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On December 2, ABC Company acquired 1,400 shares of its $2 par value common stock for $21 each. On December 20, ABC Company resold 1,000

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On December 2, ABC Company acquired 1,400 shares of its $2 par value common stock for $21 each. On December 20, ABC Company resold 1,000 shares for $10 each. Which of the following is correct regarding the journal entry for the resold shares? Multiple Choice Credit Treasury Stock $10,000 Debit Cash $14,000 Credit Additional Paid-in Capital $8,000 Credit Treasury Stock $21,000

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