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The following shareholders' equity section is from the books of Keener Corporation at the beginning of the current year: Common stock, $10 par value, 1,000,000
The following shareholders' equity section is from the books of Keener Corporation at the beginning of the current year: Common stock, $10 par value, 1,000,000 shares authorized, 98,950 shares $989,500 Issued and outstanding Additional paid-in capital in excess of par -common Additional paid-in capital from treasury stock transactions Retained earnings 120,000 0 1,545,000 Required: Prepare the journal entries required to record each of the following events January 17: Keener acquired 15,000 shares of its own common stock at a cost of $16 a. per share b. February 24: Keener sold 4,800 shares of treasury stock at $19 per share. c. April 12: Keener sold 7,200 shares of treasury stock at $8 per share. d. May 17: Keener declared a $2 per share cash dividend to all shareholders of record as of June 7. July 13: Keener paid the cash dividend. e
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