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On July 1, Weaver Co. repurchased 3,000 shares of $1 par common stock to be held as treasury stock for $10/share. On September 1, Weaver
On July 1, Weaver Co. repurchased 3,000 shares of $1 par common stock to be held as treasury stock for $10/share. On September 1, Weaver Co. sold 2,000 of the treasury shares for $11/share. The journal entry to record this transaction would include which of the following?
- A. Cr. Treasury Stock $22,000
- B. Dr. Cash $20,000
- C. Cr. Additional Paid In Capital - Treasury Stock $2,000
- D. Dr. Retained Earnings $2,000
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