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When assisting me with this question, could you please keep it in the same format so I have an easier understanding of how this should

When assisting me with this question, could you please keep it in the same format so I have an easier understanding of how this should be handled and wrote out image text in transcribed

Recording the purchase of Treasury Stock 1) Record the purchase of 100 shares at $90 per share (=$9,000) Debit Credit Recording the sale of Treasury Stock 2) Record the sale of 50 shares of Treasury Stock at $100 per share (=$5,000) Debit Credit Assets Liabilities Equity Revenue Expense Accts Payable Sales Revenue Cost Of Goods Sold Cash 12,000 50,000 100,000 Common Stock ($10 Par) 10,000 10,000 10,000 Common Stock Paid-In Capital In Excess of Par 2,000 40,000 90,000 Accts Receivable Wages Payable Preferred Stock ($100 par) Wages Expense Preferred Stock Paid-In Capital In Excess of Par Inventory Dividends Payable Rent Expense Capital Asset L/T Note Payable Treasury Stock Deprec Expense Paid-In Capital from Sale of Treasury Stock Acc Deprec Retained Earnings Common Stk Dividends Preferred Dividends Income Summary 25,000

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