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Required information [The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: February 1 Purchased 560 shares
Required information [The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation: February 1 Purchased 560 shares of the company's own common stock at $36 cash per share; the stock is now held in treasury. July 15 Issued 180 of the shares purchased on February 1 for $46 cash per share. September 1 Issued 140 more of the shares purchased on February 1 for $31 cash per share. Required: 1. Indicate the account, amount, and direction of the effect for the above transactions. (Enter any decreases to account balances with a minus sign.) Assets February 1 July 15 Cash Cash July 15 September 1 Cash September 1 Liabilities + Treasury Stock Stockholders' Equity + Treasury Stock +Additional Paid-In Capital, Treasury Stock + Additional Paid-In Capital, Treasury Stock + Treasury Stock
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