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Question 55 points) Jean Grey Inc. has decided to take their company public on January 1.2014. Jean Grey Inc. had 10,000 shares authorized. The following

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Question 55 points) Jean Grey Inc. has decided to take their company public on January 1.2014. Jean Grey Inc. had 10,000 shares authorized. The following transactions occurred. a. Jean Grey issued 5,000 shares for $15 per share during their IPO on January 1.2014. Each share has a par value of ss. Record the entry for this Make sure to clearly label your debits and credits and include the classification of each account. (10 points) On January 1, 2015, Jean Grey bought back 2,000 shares from the open market at a price of S25 per share. Record the journal entry for this share Make to clearly label your debits and credits and include the classification of each account. (0 points)

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