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Glow Co. reacquired 60,000 shares of its common stock at $25 per share. The balance...

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Accounting

Glow Co. reacquired 60,000 shares of its common stock at $25 per share. The balance of the treasury stock account is reported on the balance sheet as a(n):

a. reduction of fixed assets.

b. increase in current liabilities.

c. increase in long-term liabilities.

d. reduction of stockholders' equity.

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