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Problem 15-02 (Part Level Submission) Buffalo Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 19,900 shares issued
Problem 15-02 (Part Level Submission) Buffalo Company had the following stockholders' equity as of January 1, 2020. Common stock, $5 par value, 19,900 shares issued Paid-in capital in excess of par-common stock Retained earnings Total stockholders' equity $99,500 300,000 315,000 $714,500 During 2020, the following transactions occurred. Feb. 1 Mar. 1 Mar. 18 Apr. 22 Buffalo repurchased 2,170 shares of treasury stock at a price of $19 per share. 730 shares of treasury stock repurchased above were reissued at $17 per share. 520 shares of treasury stock repurchased above were reissued at $14 per share. 590 shares of treasury stock repurchased above were reissued at $22 per share. (a) Prepare the journal entries to record the treasury stock transactions in 2020, assuming Buffalo uses the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) (a) Prepare the journal entries to record the treasury stock transactions in 2020, assuming Buffalo uses the cost method. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Mar. 1 Mar. 18 Click if you would like to Show Work for this question: Open Show Work
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