Question
On January 2, 2020, MJ Co., was authorized to issue 100,000 shares of $5 par value common stock. MJ Co., issued 20,000 shares of common
On January 2, 2020, MJ Co., was authorized to issue 100,000 shares of $5 par value common stock. MJ Co., issued 20,000 shares of common stock on January 15, 2020at $ 15 per share.
On June 30 , 2020 , the corporation purchased 2,200 common shares for the treasury at $18 per share .
On September 20, 2020 , the corporation sold 800 treasury shares at $ 21 per share .
On November 3, 2020 , the corporation sold 500 treasury shares at $ 17 per share.
On December 15 , 2020, the corporation sold 400 treasury shares at $13 per share .
Assuming that on December 31 , 2020 , all remaining treasury stock shares are retired , record the journal entry of the retirement of treasury stock
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