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Please I want answer for these questions by typing. Big Thanks Prepare the necessary journal entry for each of the following transactions for Nadim Corporation.

Please I want answer for these questions by typing. Big Thanks

  1. Prepare the necessary journal entry for each of the following transactions for Nadim Corporation.
  1. a) Purchased 5,000 shares of the companys common stocks as treasury stock, paying cash of $18 per share.
  2. b) Sold 3,000 shares of the treasury stock for cash of $22 per share.
  3. c) Sold the remaining treasury stock for cash of $10 per share.

  1. What is treasury stock? What type of account is Treasury stock, and what is the accounts normal balance?

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