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Contrast Corp. was involved in the following transactions. Jan 1 Issued...

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Accounting

Contrast Corp. was involved in the following transactions.

Jan 1 Issued 10,000 shares of common stock, $1 par, for $21.

Mar 1 Reacquired 4,000 shares at $25.

July 1 Reissued 3,000 shares at $30.

Dec 1 Retired the remaining treasury stock shares.

REQUIRED: Prepare the required journal entries under both the par value and cost methods.

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