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On January 1, 2016, Frank Company issued 200 shares of $20 par value common stock for $50 a share. On February 1, the company purchased
On January 1, 2016, Frank Company issued 200 shares of $20 par value common stock for $50 a share. On February 1, the company purchased 75 shares at $44 a share to be held as treasury stock. On March 1, 2016, the company reissued 40 shares of the treasury stock at $48 a share. The journal entry on March 1 will include a: A. Credit to Paid in Capital - Treasury Stock for $160 B. Debit to Retained Earnings for $160 C. Credit to Cash for $1,920 D. Credit to Treasury Stock for $2,000
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