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Required information [The following information applies to the questions displayed below.] Williamson Corporation was organized to operate a tax preparation business. The charter authorized
Required information [The following information applies to the questions displayed below.] Williamson Corporation was organized to operate a tax preparation business. The charter authorized the following stock: common stock, $6 par value, 99,000 shares authorized. During the first year, the following selected transactions were completed: a. Sold 67,000 shares of common stock for cash at $49 per share. b. Repurchased 4,000 shares from a stockholder for cash at $51 per share. quired: Prepare the journal entry required for each of these transactions. (If no entry is required for a nsaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Transaction 1 a. Cash Common stock 2 b. General Journal Additional paid-in capital, common stock Treasury stock Cash Debit
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