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During March 2020, the Pickins Corporation repurchased 10,000 common shares for the treasury at a price of $3.50 per share. During August 2020, all 10,000 treasury shares are reissued at $5 per share. b. Prepare journal entries to record the purchase of the treasury shares in March 2020 and the reissuance of the shares in August 2020. Debit Credit