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On September 1, 2025, Crane Company reacquired 20500 shares of its $15 par value common stock for $17 per share. Crane uses the cost method

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On September 1, 2025, Crane Company reacquired 20500 shares of its $15 par value common stock for $17 per share. Crane uses the cost method to account for treasury stock. The journal entry to record the reacquisition of the stock should debit a. Common Stock for $348500. b. Common Stock for $307500. c. Treasury Stock for $307500. d. Treasury Stock for $348500

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