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On July 1, 2021, Gameshop Corp., repurchased 2,000 shares of its outstanding common shares for $18 per share. Prepare journal entries for the transaction under

On July 1, 2021, Gameshop Corp., repurchased 2,000 shares of its outstanding common shares for $18 per share. Prepare journal entries for the transaction under each of the following independent assumptions: (1) The average cost of previously issued common shares was $20 per share

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