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Underwood Company's only treasury stock transactions for the current year are as follows: (1) On June 1, 2017, Underwood Company purchased 3,000 shares of its

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Underwood Company's only treasury stock transactions for the current year are as follows: (1) On June 1, 2017, Underwood Company purchased 3,000 shares of its common stock for $40 per share (2) On July 1, 2017, it reissued 500 of these shares at $45 per share. (3) On August 1 it reissued an additional 2,000 treasury shares at $38 per share. Prepare the journal entries required to record these transactions. Show your work. (6 points) GENERAL JOURNAL PAGE POST REF DATE ACCOUNT TITLE DEBIT CREDIT 1 2 3

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