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On January 1, 2022, Company O repurchases 50,000 shares of its own common stock for $20 per share. On December 31, 2022, the company reissues

On January 1, 2022, Company O repurchases 50,000 shares of its own common stock for $20 per share. On December 31, 2022, the company reissues 10,000 shares at $25 per share.

Prepare the journal entries to record the repurchase and reissuance of the treasury stock.

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