2. ABC Corp. has 500,000 shares of its $5 par value stock authorized. Currently there...
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Accounting
2. ABC Corp. has 500,000 shares of its $5 par value stock authorized. Currently there are 50,000 shares issued and outstanding. Record the journal entries required for the following treasury stock transactions.
a. The company purchased 5,000 shares of its own stock for $14 per share.
b. The company sold 2000 shares of its treasury shares for $17 per share.
c. The company sold 800 shares of its treasury stock for $12 per share.
I need the journal entries for this problem.
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You can see the logs in the Dashboard.