On May 3, Zirbal Corporation purchased 7,500 shares of its own stock for $60,000 cash. On November 4, Zirbal reissued 1,100 shares of this treasury
On May 3, Zirbal Corporation purchased 7,500 shares of its own stock for $60,000 cash. On November 4, Zirbal reissued 1,100 shares of this treasury stock for $9,900.
Prepare the May 3 and November 4 journal entries to record Zirbals purchase and reissuance of treasury stock.
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Authors: Paul D. Kimmel
3rd Canadian Edition
0470836792, 978-0470836798
