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Prepare entries in journal form without explanations to record the following transactions involving Dailey Corporation's $5 par value common stock: Apr. 1 Purchased 500 shares

Prepare entries in journal form without explanations to record the following transactions involving Dailey Corporation's $5 par value common stock:

Apr.

1

Purchased 500 shares of its own common stock for $12, the current market price. This is the first transaction involving its own stock engaged in by the company.

May

1

Sold 100 of the shares purchased on April 1 for $15.

June

1

Retired 100 of the shares purchased on April 1. The original issue price was $8.

July

1

Sold 200 of the shares purchased on April 1 for $10.

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