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Please help solve! Do It! Review 11-3 Gibbs Corporation purchased2,340shares of its $10par value common stock for $88,920on August 1. It will hold these in

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Do It! Review 11-3 Gibbs Corporation purchased2,340shares of its $10par value common stock for $88,920on August 1. It will hold these in the treasury until resold. Journalize the treasury stock transaction.(Credit account titles are automatically indented when amount is entered. Do not indent manually.)

Date Account Titles and Explanation Debit Credit

Aug. 1

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