A company acquired 1,000 treasury stock for $20,000. The company subsequently resold 500 treasury shares...
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A company acquired 1,000 treasury stock for $20,000. The company subsequently resold 500 treasury shares for $15,000. The journal entry on the resale of the shares from treasury would show: Credit the treasury stock $10,000 and credit contributed capital with $5,000 Credit the treasury stock $20,000 and debit retained earnings with $5,000 Credit the treasury stock $10,000 and credit retained earnings with $5,000 Debit the treasury stock $10,000 and debit contributed capital with $5,000
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