514-7 Justice Inc. began 2020 with the following account balances: Common shares, 150,000 shares authorized,...
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Accounting
514-7 Justice Inc. began 2020 with the following account balances: Common shares, 150,000 shares authorized, 75,000 issued Retained earnings $2,175,000 820,000 Record the journal entries for the following transactions: Jan. 10 Repurchased 7,500 of its own shares for $31 per share. Feb. 20 Sold 4,000 of the repurchased shares for $32 per share. Mar. 30 Sold the remaining repurchased shares for $25 per share. 2 Share repurchase entries March 30, $87,500
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