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Question 41 Current Attempt in Progress Sheridan Company originally issued 3400 shares of $10 par value common stock for $119000 ($35 per share). Sheridan subsequently

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Question 41 Current Attempt in Progress Sheridan Company originally issued 3400 shares of $10 par value common stock for $119000 ($35 per share). Sheridan subsequently purchases 340 shares of treasury stock for $26 per share and resells the 340 shares of treasury stock for $30 per share. In the entry to record the sale of the treasury stock, there will be a credit to Treasury Stock for $3400. credit to Paid-In Capital from Treasury Stock for $1360 debit to Paid-In Capital in Excess of Par of $11900. credit to Common Stock for $8840. Attempts: 0 of 1 used Save for Later Check

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