Question: Nike Inc. repurchased 2,000 shares of its own common stock at $75 per share. Calculate the
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Question:
·Question: Nike Inc. repurchased 2,000 shares of its own common stock at $75 per share. Calculate the total amount paid to repurchase the shares and provide the journal entry to record the repurchase.
Requirements:
- Calculate the total amount paid to repurchase the shares.
- Provide the journal entry to record the repurchase.
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