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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 of
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.)
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