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On March 3rd, 4J Corporation issued 5,000 shares of its $2,00 par common stock for $15 per share. On July 1, the company bought
On March 3rd, 4J Corporation issued 5,000 shares of its $2,00 par common stock for $15 per share. On July 1, the company bought back 1,500 shares of its own common stock for $17 per share. The journal entry to record the buy back on July 1 would be a debit to A/ for A/ for and a credit to On March 3rd, 4J Corporation issued 5,000 shares of its $2,00 par common stock for $15 per share. On July 1, the company bought back 1,500 shares of its own common stock for $17 per share. On September 2nd, they resold 500 shares for $20 per share. The journal entry to record the September 2nd resale would include a debit to A/ for A/ , a credit to A/ for and a credit to A/ for A/
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