On May 3, Zirbal Corporation purchased 6,000 shares of its own stock for $60,000 cash....
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Accounting
On May 3, Zirbal Corporation purchased 6,000 shares of its own stock for $60,000 cash. On November 4, Zirbal reissued 1,500 shares of this treasury stock for $16,500. Prepare the May 3 and November 4 journal entries to record Zirbals purchase and reissuance of treasury stock.
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