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Required information [The following information applies to the questions displayed below. The following selected transactions occurred for Corner Corporation: Purchased 510 shares of the company's
Required information [The following information applies to the questions displayed below. The following selected transactions occurred for Corner Corporation: Purchased 510 shares of the company's own common stock at $31 cash per share; the stock is now held in Feb treas t of the shares purchased on February for $41 cash per shar July 15 Sept Issued 115 more of the shares purchased on February 1 for $26 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.) Stockholders' Equity Assets Liabilities Feb. 1 July 15 Sept. 1 Required information [The following information applies to the questions displayed below.] The following selected transactions occurred for Corner Corporation Feb. 1 Purchased 510 shares of the company's own common stock at $31 cash per share; the stock is now held in July 15 Issued 155 of the shares purchased on February 1 for $41 cash per share. Sept. 1 Issued 115 moree of the shares purchased on February for $26 cash per share. 2. Prepare journal entries for each of the transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet 1 2 3 Record the purchase of 510 shares of previously issued common stock for a price of $31 per share. Note: Enter debits before credits. Date General Journal Debit Credit Feb. 1 Clear entry View general journal Record entry
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