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On January 1, 2020, Choco Corporation started the company and issued 10,000 shares of $1 par value common stock at the price of $5. On
On January 1, 2020, Choco Corporation started the company and issued 10,000 shares of $1 par value common stock at the price of $5. On March 1, 2020, Choco Corporation has purchased 1,000 shares of its own common stock in the market at the price of $7. On April 1, 2020, Choco Corporation resold 1,000 shares of its treasury stock in the market for $10 per share. What is the journal entry to record re-sales of treasury stock on April 1, 2020? (use following accounts: common stock, cash, paid in capital-excess of par, treasury stock, paid in capital-treasury stock) Account name Debit Credit
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