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On December 2. Coley Corporation acquired 2.000 shares of its $3 par value common stock for $24 each. On December 20, Coley Corporation resold 1,600

On December 2. Coley Corporation acquired 2.000 shares of its $3 par value common stock for $24 each.

On December 20, Coley Corporation resold 1,600 shares for $11 each. Which of the following is correct regarding the journal entry for the resold shares?

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