Corporation began 2015 with the following account balances. Common stock, $20 par, 100,000 shares authorized,...
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Accounting
Corporation began 2015 with the following account balances.
Common stock, $20 par, 100,000 shares authorized, 75,000 outstanding $1,500,000
Paid-in capital in excess of par - common 500,000
Retained earnings 750,000
Alamo completed the following transactions in January, 2015. Prepare journal entries for these transactions.
Jan. 10 Reacquired 5,000 shares of its stock for $30 per share.
Jan. 20 Sold 2,000 shares of treasury stock for $33 per share.
Jan. 30 Sold the remaining shares of treasury stock for $25 per share.
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