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Question 3 6 points Save Ansi On January 1, 20x5, Dove Valley Corporation had 100,000 shares of $10 par value common stock issued and outstanding.

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Question 3 6 points Save Ansi On January 1, 20x5, Dove Valley Corporation had 100,000 shares of $10 par value common stock issued and outstanding. All 100,000 shares had been issued in a prior period at $30 per share. On February 1, 20x5, Dove Valley purchased 4,000 shares of treasury stock for $36 per share and later sold the treasury shares for $40 per share on March 2, 20x5. The entry to record the purchase of the treasury shares on February 1, 205, is: Cash 144,000 Treasury Stock-Common 144,000 144,000 Treasury Stock-Common 128,000 Gain on Treasury Stock-Common 16,000 Treasury Stock, Common 40,000 Loss on Treasury Stock-Common 104,000 Cash 144,000 Treasury Stock, Common 144,000 Cash 144,000 O Cash

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