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Park Corp. purchases 3,000 of its common stock for $25 per share. The shares had a par value of $1. What is the journal entry

Park Corp. purchases 3,000 of its common stock for $25 per share. The shares had a par value of $1. What is the journal entry to record this transaction?

Dr. Common Stock 3,000; Cr. Cash 3,000

Dr. Treasury Stock 75,000; Cr. Cash 75,000

Dr. Common Stock 75,000; Cr. Cash 75,000

Dr. Treasury Stock 3,000; Cr. Cash 3,000

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