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On January 1, 2021, the stockholders' equity section of Seef Inc. was as follows Common stock ($10 par vaihe) $400 000, pt cop value $200,000,
On January 1, 2021, the stockholders' equity section of Seef Inc. was as follows Common stock ($10 par vaihe) $400 000, pt cop value $200,000, and retained earnings $150,000. During the year, the following treasury stock transactions occaed March 5 Purchased 6,000 shares for cash at $15 per share April 25 Sold 4,000 treasury shares for cath at $10 per share June 25 Sold 2,000 treasury shares for cash at $11 per share Required: Prepare journal entries to record the above treasury stock transactions CLEARLY INDICATE THE DEBITS & CREDITS Example: XYZ Company pays $15,000 cash to purchase land Answer Dr Land Cr. Cash 15,000 15,000 For the toolbar, press ALT+F10 (PC) or ALT+FN+F10 (Mac) BIUS Paragraph Arial v 10pt 2 I XBQe Activate Windows Go to Se HOGS POWE
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