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Problem 1: The Ramons Corporation had the following transactions for the year ending 2020: (1) purchased 2,000 shares of its own stock at $15 per

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Problem 1: The Ramons Corporation had the following transactions for the year ending 2020: (1) purchased 2,000 shares of its own stock at $15 per share on April 9, (2) on June 15th the company sold 1,000 shares at $11 per share; and (3) on November 20th the company sold another 500 shares at $20 per share. Prepare the journal entries to record the transactions. (15 points) The following table shows the equity section at the beginning of the year. Common Stock - No state value Additional Paid In Capital - Common Stock Additional Paid-In-Capital - Treasury Stock Retained earnings $1,000,000 500,000 2,000 150,000,000 General Journal Debit Credit

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