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On January 1, Swenson Corporation had 40,000 shares of $10 par value common stock issued and outstanding. On February 1, Swenson purchased 2,000 shares of

On January 1, Swenson Corporation had 40,000 shares of $10 par value common stock issued and outstanding. On February 1, Swenson purchased 2,000 shares of treasury stock for $24 per share and later sold the treasury shares for $26 per share on July 31. The journal entry to record the purchase of the treasury shares on February 1, would include a

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