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  3. 3. nusrat company acquired 16,000 shares of its ow

3. Nusrat Company acquired 16,000 shares of its own common stock...

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Accounting

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3. Nusrat Company acquired 16,000 shares of its own common stock at $20 per share on February 5, 2019 and sold 8,000 of these shares at $27 per share on August 9, 2020. The market value of Nusrat's common stock was $24 per share at December 31, 2019, and $25 per share at December 31, 2020. The cost method is used to record treasury stock transactions. Give the journal entry for the events. (4 points)

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