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Please explain how to do - Thank oyu Skysong Corporation has outstanding 19,000 shares of $5 par value common stock. On August 1,2025 , Skysong
Please explain how to do - Thank oyu
Skysong Corporation has outstanding 19,000 shares of $5 par value common stock. On August 1,2025 , Skysong reacquired 220 shares at $73 per share. On November 1, Skysong reissued the 170 shares at $62 per share. Skysong had no previous treasury stock transactions. Prepare Skysong's journal entries to record these transactions using the cost method. (List all debit entries before credit entries. Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Record entries in the order displayed in the problem statement.)Step by Step Solution
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