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In 2018, Borland Semiconductors entered into the transactions described below. In 2015, Borland had issued 175...

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Accounting

In 2018, Borland Semiconductors entered into the transactionsdescribed below. In 2015, Borland had issued 175 million shares ofits $1 par common stock at $30 per share.

Required: Assuming that Borland retires shares it reacquires,record the appropriate journal entry for each of the followingtransactions: (If no entry is required for a transaction/event,select "No journal entry required" in the first account field.Enter your answers in millions (i.e., 10,000,000 should be enteredas 10).)

On January 2, 2018, Borland reacquired 9 million shares at$28.00 per share.

On March 3, 2018, Borland reacquired 9 million shares at $33 pershare.

On August 13, 2018, Borland sold 1 million shares at $38 pershare.

On December 15, 2018, Borland sold 2 million shares at $33 pershare.

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Journal Entry for 2015 When 175 million shares issued Calculation Note Account Million Dr Million Cr Bank 525000 17530 Issue Price 3000 Common Stock 17500 1751 Par Value 100 Additional paidin capital common stock 507500 17529 2900 29 per share to be credited to additional paid in    See Answer
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