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Three journals required: Reaccquired 69000 shares at $11.90 Sold 19000 shares at $13.95 Sold 24000 shares at $7.95 n 2016, Southwestern Corporation completed the treasury
Three journals required:
Reaccquired 69000 shares at $11.90
Sold 19000 shares at $13.95
Sold 24000 shares at $7.95
n 2016, Southwestern Corporation completed the treasury stock transactions listed below February 2: Reacquired 69,000 shares at $11.90. March 17 Sold 19,000 shares at $13.95. May 17: Sold 24,000 shares at $7.95. Southwestern had issued 100,000 shares of its $1 par common stock for $10 several months ago. Required Prepare the journal entries to record the above transactions using the cost method. (lf no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
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